Vast Renewables Limited (VSTE) 20-F9 Sep 242024 FY Annual report (foreign)Financial data

Company Profile

Cover

Cover	12 Months Ended
Cover	Jun. 30, 2024 shares
Entity Addresses [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Jun. 30, 2024
Current Fiscal Year End Date	--06-30
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-41891
Registrant Name	Vast Renewables Limited
Entity Incorporation, State or Country Code	C3
Entity Address, Address Line One	Suite 7.02
Entity Address, Address Line Two	124 Walker Street
Entity Address, City or Town	North Sydney
Entity Address, Postal Zip Code	NSW 2060
Entity Address, Country	AU
Entity Common Stock, Shares Outstanding	29,973,504
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Entity Central Index Key	0001964630
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment flag	false
Ordinary shares
Entity Addresses [Line Items]
Title of 12(b) Security	Ordinary Shares, no par value
Trading Symbol	VSTE
Security Exchange Name	NASDAQ
Warrants
Entity Addresses [Line Items]
Title of 12(b) Security	Warrants, each whole warrant exercisable for one Ordinary Share at an exercise price of $11.50 per share
Trading Symbol	VSTEW
Security Exchange Name	NASDAQ
Business Contact
Entity Addresses [Line Items]
Entity Address, Address Line One	Suite 7.02
Entity Address, Address Line Two	124 Walker Street
Entity Address, City or Town	North Sydney
Entity Address, Postal Zip Code	NSW 2060
Entity Address, Country	AU
Contact Personnel Name	Alec Waugh
Country Region	61
City Area Code	2
Local Phone Number	4072 2889

Audit Information

Audit Information	12 Months Ended
Audit Information	Jun. 30, 2024
Audit Information [Abstract]
Auditor Firm ID	1379
Auditor Location	Sydney, Australia
Auditor Name	PricewaterhouseCoopers

CONSOLIDATED STATEMENTS OF PROF

CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Revenue:
Revenue from customers	$ 342	$ 268	$ 163
Grant revenue	0	651	1,754
Total revenue	342	919	1,917
Expenses:
Employee benefits expenses	5,274	2,984	2,756
Consultancy expenses	3,943	2,134	1,934
Administrative and other expenses	10,529	8,080	1,618
Share based listing expenses	106,055	0	0
Raw materials and consumables used	815	600	241
Depreciation expense	84	49	47
Finance costs, net	1,947	2,518	2,119
Share in loss of jointly controlled entities	206	254	10
(Gain)/loss on derivative financial instruments	164,935	(105)	3
Total expenses	293,787	16,514	8,728
Net loss before income tax	(293,445)	(15,595)	(6,811)
Income tax benefit	0	378	618
Net loss	(293,445)	(15,217)	(6,193)
Other comprehensive income that may be reclassified to profit or net loss in subsequent periods:
Gain on foreign currency translation	(402)	891	1,379
Total comprehensive loss for the year	$ (293,848)	$ (14,326)	$ (4,814)
Loss per share:
Basic loss per share (in usd per share)	$ (17.50)	$ (7.08)	$ (2.88)
Diluted loss per share (in usd per share)	$ (17.50)	$ (7.08)	$ (2.88)
Weighted average number of common shares outstanding, basic (in shares)	16,764	2,149	2,149
Weighted average number of common shares outstanding, diluted (in shares)	16,764	2,149	2,149

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 11,081	$ 2,060
Trade and other receivables	839	314
R&D tax incentive receivable	0	638
Prepaid expenses	1,887	44
Total current assets	13,807	3,056
Non-current assets:
Investment in joint venture accounted for using the equity method	1,065	1,300
Loans and advances to related parties	456	225
Property, plant and equipment	62	30
Right-of-use-assets	379	45
Total non-current assets	1,963	1,600
Total assets	15,770	4,656
Current liabilities:
Borrowings and other financial liabilities	0	19,812
Derivative financial instruments	0	18
Trade and other payables	5,157	5,622
Contract liabilities	0	2
Lease liabilities	134	26
Warrants liability	3,670	0
Deferred consideration payable	959	955
Provisions	314	183
Total current liabilities	10,235	26,618
Non-current liabilities:
Lease liabilities	299	28
Borrowings and other financial liabilities	12,821	7,134
Provisions	156	117
Derivative financial instruments	561	174
Total non-current liabilities	13,836	7,453
Total liabilities	24,071	34,071
Equity:
Issued capital	297,618	2,354
Share-based payment reserve	24,294	4
Foreign currency translation reserve	2,883	3,285
Capital contribution reserve	0	4,591
Accumulated losses	(333,094)	(39,649)
Total deficit	(8,300)	(29,415)
Total liabilities and equity	$ 15,770	$ 4,656

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Issued Capital	Share-based Payment Reserve	Capital Contribution	Foreign Currency Translation	Accumulated Losses
Beginning balance at Jun. 30, 2021	$ (13,111)	$ 2,354	$ 4	$ 1,755	$ 1,015	$ (18,239)
Loss for the year	(6,193)					(6,193)
Other comprehensive income	1,379				1,379
Modification of convertible notes, net of tax	1,697			1,697
Ending balance at Jun. 30, 2022	(16,228)	2,354	4	3,452	2,394	(24,432)
Loss for the year	(15,217)					(15,217)
Other comprehensive income	891				891
Modification of convertible notes, net of tax	1,139			1,139
Ending balance at Jun. 30, 2023	(29,415)	2,354	4	4,591	3,285	(39,649)
Loss for the year	(293,445)					(293,445)
Other comprehensive income	(402)				(402)
Share-based Compensation - earnout shares	24,290		24,290
Issuance of shares to employees	638	638
Conversion of debt to equity	204,209	208,800		(4,591)
Shares issued to acquire NETC	67,799	67,799
PIPE funding	17,506	17,506
Shares issued as settlement of transaction expenses	2,057	2,057
Transaction cost accounted for as a deduction from equity	(1,536)	(1,536)
Ending balance at Jun. 30, 2024	$ (8,300)	$ 297,618	$ 24,294	$ 0	$ 2,883	$ (333,094)

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Cash from operating activities:
Net loss	$ (293,445)	$ (15,217)	$ (6,193)
Adjustments to net loss:
Share in loss of jointly controlled entities	206	254	10
Share based listing expenses	106,055	0	0
Share based payment expense	1,694	0	0
Depreciation and amortization expense	84	49	47
Non-cash finance costs recognised in profit or loss	2,046	2,518	2,118
Unrealised (gain)/loss on derivative financial instruments	164,935	(105)	3
Deferred income tax expense/(benefit)	0	(378)	(618)
Changes in operating assets and liabilities:
Decrease/(Increase) in trade and other receivable	(525)	(233)	68
(Increase)/decrease in prepayments	(1,843)	(13)	(28)
(Increase)/decrease in tax incentive receivable	638	76	35
Increase/(decrease) in trade and other payables	(19,126)	4,079	1,149
Deferred income	0	0	(1,037)
Increase/(decrease) in contract liabilities	2	(102)	104
Increase in provisions	170	66	17
Foreign exchange differences	(1,200)	(45)	215
Cash flows from (used in) operating activities	(40,309)	(9,051)	(4,110)
Cash flows from investing activities:
Acquisition of interest in joint venture	0	0	(67)
Interest received	98	9	1
Loans and advances paid to related parties	(227)	(144)	(43)
Purchases of property, plant and equipment	(115)	(33)	(15)
Net cash used in investing activities	(244)	(168)	(124)
Cash flows from financing activities:
Payment of deferred consideration	0	(607)	0
Proceeds from borrowings and other financial liabilities	40,285	11,515	1,838
Proceeds from Capital Reorganisation	9,203	0	0
Increase/(decrease) in lease liabilities	45	(37)	(45)
Net cash generated by financing activities	49,533	10,871	1,793
Net increase/(decrease) in cash and cash equivalents	8,979	1,652	(2,441)
Effect of exchange rate changes on cash	42	(15)	(234)
Cash and cash equivalents at the beginning of the year	2,060	423	3,098
Cash and cash equivalents at the end of the year	$ 11,081	$ 2,060	$ 423

General information

General information	12 Months Ended
General information	Jun. 30, 2024
General Information [Abstract]
General information	(1) General information The consolidated financial statements are comprised of Vast Renewables Limited (formerly Vast Solar Pty Ltd) and the entities it controls. Unless the context requires otherwise, references in this report to “we,” “us,” “our,” “the Company,” or “Vast” mean Vast Renewables Limited and the entities it controls. Vast is an Australian public company limited by shares. We are a leading renewable energy company that has developed concentrated solar power (CSP) systems to generate, store and dispatch carbon free, utility-scale electricity and industrial heat, and to enable the production of green fuels. Our unique approach to CSP utilizes a proprietary, modular sodium loop to efficiently capture and convert solar heat into these end products. Our vision is to provide continuous carbon-free energy globally by deploying our CSP technology and complementary technologies (e.g., intermittent solar PV and wind) to deliver renewable and dispatchable electricity, heat and storage on a continuous basis. We believe our CSP technology is capable of providing competitive, dispatchable and carbon-free power for on- and off-grid power generation applications, energy storage, process heat, and has the potential to unlock green fuels production. Vast’s registered office and principal place of business is as follows: Suite 7.02, 124 Walker Street North Sydney NSW 2060 The consummation of the Capital Reorganisation with Nabors Energy Transition Corp. (“NETC”) on December 18, 2023 (the “Closing Date”) as provided in Note 25 – Capital reorganization (the “SPAC Merger”), is accounted for as a capital reorganization. The Capital Reorganisation, which is not within the scope of IFRS 3 as NETC does not meet the definition of a business in accordance with IFRS 3, is accounted for within the scope of IFRS 2. As such, the Capital Reorganisation was achieved with the Company issuing ordinary shares ("Ordinary Shares") to NETC shareholders in exchange for the net liabilities of NETC ($11.2 million) as of the Closing Date, accompanied by a share recapitalization. The net liabilities of NETC are stated at historical cost, with no goodwill or other intangible assets recorded. Any excess of the fair value of the Company’s Ordinary Shares issued considering a fair value of the Ordinary Shares of $11.99 per share (price of Ordinary Shares at the Closing Date) over the fair value of NETC’s identifiable net liabilities acquired represents compensation for the service of a share exchange listing for its shares and is expensed as incurred (“share based listing expense”) and further details of share based listing expense is provided in Note 25 – Capital reorganization (the “SPAC Merger”). As a result of the Capital Reorganisation, NETC became a wholly-owned direct subsidiary of the Company. On December 19, 2023, the Ordinary Shares and public warrants to purchase Ordinary Shares (the "Public Warrants") commenced trading on the Nasdaq Stock Market, or “Nasdaq,” under the symbols “VSTE” and “VSTEW,” respectively. Director and officers of the company The following table provides information relating to our directors and executive officers as of the date of approving these financial statements. Name Age Position Craig Wood 47 Chief Executive Officer and Director Marshall (Mark) D. Smith 64 Chief Financial Officer Kurt Drewes 50 Chief Technology Officer Alec Waugh 58 General Counsel Sue Opie 57 Chief People Officer Peter Botten 68 Chair Colleen Calhoun 57 Director Thomas Quinn 62 Director William Restrepo 64 Director Colin Richardson 63 Director John Yearwood 64 Director

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2024
Disclosure of objectives, policies and processes for managing capital [abstract]
Summary of Significant Accounting Policies	(2) Summary of Significant Accounting Policies a) Basis of preparation Compliance with IFRS The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) . The Financial Statements were authorized for issue on September 9, 2024 by the directors of the Company. Functional and presentation currency The functional currency of Vast is Australian dollars (“AUD”) being the primary economic environment in which it operates. The presentation currency of Vast is United States (“US” or “$”) dollars. In accordance with IAS 21 The effects of change in foreign exchange rates , the financial statements for all years and periods presented have been translated into the presentation currency using the procedures outlined below: • The consolidated statements of profit or loss and comprehensive income and statement of cash flows for each year have been translated into US dollars using average foreign currency rates prevailing for the relevant period. • All assets and liabilities in the consolidated statements of financial position have been translated into US dollars at the exchange rate prevailing at each relevant reporting date. • The equity section of the consolidated statements of financial position has been translated into US dollars using historical rates i.e. translated using the rates of exchange in effect as of the dates of the various capital transactions. • All resulting exchange differences arising from the translation are included in other comprehensive income. • Loss per share has also been restated to US dollars to reflect the presentation currency. The year-end exchange rate used was A$/US$ 1:0.6620,1:0.6630 and 1:0.6889 as of June 30, 2024, June 30, 2023, and June 30, 2022 respectively. Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss. Foreign currency translation reserve Exchange differences arising on performing the above translation procedures are recognised in other comprehensive income and accumulated in a separate reserve within equity referred as foreign currency translation reserve. Differences arising on settlement or translation of monetary items are recognised in profit or loss. Historical cost convention The consolidated financial statements have been prepared on the basis of historical cost, as explained in the accounting policies below. Historical cost is generally based on the fair values of the consideration given in exchange for goods and services. b) Going concern The Company incurred a net loss of $293.4 million and $15.2 million for the years ended June 30, 2024 and 2023, respectively and used net cash in operating activities of $40.3 million and $9.1 million for the years ended June 30, 2024 and 2023, respectively. As of June 30, 2024, the Company had net current assets of $3.6 million and net liabilities of $8.3 million. As of June 30, 2024, promissory notes totalling $5.4 million held by EDF were outstanding and included in the Company’s liabilities. On January 12, 2024, the Company issued an additional 681,620 Ordinary Shares to Nabors Lux 2 S.a.r.l ("Nabors Lux") for a consideration of $7.0 million pursuant to the Nabors Backstop Agreement, as contemplated in the Business Combination Agreement, dated February 14, 2023 (as amended, the "BCA").These shares have been included in the Company’s liabilities as of June 30, 2024, as certain rights are provided to Nabors Lux if, prior to September 18, 2024, certain investors invest in equity or debt interests of the Company on terms that are more favorable to such investor from a financial perspective than the terms applicable to Nabors Lux under the Nabors Backstop Agreement. In addition, in connection with the Capital Reorganisation, Nabors Lux granted the Company a term loan in the form of a backstop loan agreement (the "Backstop Loan Agreement") in an amount of up to $5.0 million which the Company expects to draw upon within the next 12 months. The Company is forecasting that it will continue to incur significant operating cash outflows to fund the contracting, construction and commissioning of its current projects and to meet all of its obligations, including interest and principal payments on the outstanding debt. In particular, the development and delivery of projects “VS1” (a 30 MW / 288 MWh reference CSP plant located in Port Augusta, South Australia) and “SM1” (a 20 ton per day solar methanol demonstration facility that will be co-located with and partially powered by VS1) will require substantial funding. These projects are expected to rely on outside sources of financing. The Australian Renewable Energy Agency ("ARENA") has announced funding of up to AUD 65 million on February 13, 2023 for VS1. On January 27, 2023, ARENA also announced that the Company will receive up to AUD 19.5 million from ARENA and the Company’s consortium partner, Mabanaft will receive up to EUR 12.4 million from Projektträger Jülich on behalf of the German government for SM1, in each case as part of the HyGATE Program. The funding awards for VS1 and SM1 are each subject to multiple conditions precedent, including but not limited to the ability to provide sufficient equity to meet the balance of funding requirements for the projects, the projects achieving financial close prior to specified dates and securing relevant permitting and approvals such as a grid connection. In addition, the Australian Federal government has announced financial support for the development of VS1 of up to AUD 110 million, the terms and conditions of which (including, inter alia, achievement of financial close of VS1 by a specified date) are to be negotiated with the Department of Climate Change, Energy, the Environment and Water and approved by the Australian Federal Government. The Company intends to raise additional funding through an external capital raise commencing in the financial year ending June 30, 2025. The Company’s ability to pursue its growth strategy and to continue as a going concern is principally dependent on the ability of the Company to meet its cash flow forecasts and to raise additional funding as and when necessary. As a result of the above, there is material uncertainty related to events or conditions that may cast significant doubt (or raise substantial doubt as contemplated by PCAOB standards) on Vast’s ability to continue as a going concern, and therefore, that the Company may be unable to realise its assets and discharge its liabilities in the normal course of business. However, the directors believe that the Company will be successful in the above matters and, accordingly, have prepared the financial statements on a going concern basis.The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. c) Revenue recognition Revenue is recognised at an amount that reflects the consideration to which the Company is expected to be entitled in exchange for transferring goods to a customer. For each contract with a customer, the Company: • identifies the contract with a customer; • identifies the performance obligations in the contract; • determines the transaction price; • allocates the transaction price to the separate performance obligations on the basis of the relative stand-alone selling price of each distinct good to be delivered; • and recognises revenue when or as each performance obligation is satisfied in a manner that depicts the transfer to the customer of the goods promised. Variable consideration within the transaction price, if any, reflects concessions provided to the customer such as discounts, rebates and refunds, any potential bonuses receivable from the customer and any other contingent events. Such estimates are determined using either the ‘expected value’ or ‘most likely amount’ method. The measurement of variable consideration is subject to a constraining principle whereby revenue will only be recognised to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognised will not occur. The measurement constraint continues until the uncertainty associated with the variable consideration is subsequently resolved. Amounts received that are subject to the constraining principle are initially recognised as deferred revenue in the form of a separate refund liability. Please refer to Note 3 – Revenue from Customers for further information on the accounting of the Company’s revenue from contract with customers. All revenue is stated net of the amount of goods and services tax (GST). d) Government grants Vast recognises grant income from the contributions received from the government which is measured at the fair value of the consideration received or receivable. Government grants are not recognised until there is reasonable assurance that Vast will comply with the conditions attaching to them and that the grants will be received. Government grants related to income are presented on a gross basis and are recognised in profit or loss on a systematic basis over the periods in which Vast recognises as expenses the related costs which the grants are intended to compensate. Investment allowances and similar tax incentives Vast is entitled to qualifying expenditure under the Research and Development Tax Incentive regime in the form of future tax offsets or income. Vast carries forward such allowances as tax credits or income for the period in which the related research and development (R&D) expenses are in accordance with IAS 12 or IAS 20 respectively. For the twelve months ended June 30, 2023 the Company received a cash refund in respect of its eligible R&D expenditure and accounted for the grant in accordance with IAS 20. Due to the fact that the Company no longer meets the aggregated turnover thresholds as defined by the Australian Taxation Office, the Company is entitled to non-refundable future tax offsets for qualifying R&D expenditure, and accounted for them in accordance with IAS 12 for the twelve months ended June 30, 2024. Specifically, government grants whose primary condition is that Vast should purchase, construct, or otherwise acquire non-current assets (including property, plant and equipment) are recognised as deferred income in the consolidated statements of financial position and transferred to profit or loss on a systematic and rational basis over the useful lives of the related assets Please refer to Note 4 – Grant Revenue for further information accounting for government grants. e) Finance income Finance income from a financial asset is recognised when it is probable that the economic benefits will flow to Vast and the amount of revenue can be measured reliably. Finance income is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset’s net carrying amount on initial recognition. f) Segment reporting The Company operates as one operating segment. The Board, who are the chief operating decision maker (CODM), reviews the financial information on a consolidated basis for the purpose of allocating resources and assessing performance. g) Employee benefits (i) Short term obligations Liabilities for wages and salaries, including non-monetary benefits, annual leave and accumulating sick leave that are expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are recognised in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the consolidated statements of financial position. (ii) Other long term employee benefit obligations Vast also has liabilities for long service leave and annual leave that are not expected to be settled wholly within 12 months after the end of the period in which the employees render the related service. These obligations are therefore measured as the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period. The obligation is presented as non-current liabilities under provisions for employee benefits in the consolidated statements of financial position. (iii) Share-based payment arrangement The grant-date fair value of equity-settled share-based payment arrangements granted to employees with non-vesting conditions is recognised as an expense, with a corresponding increase in equity, over the vesting period of the awards. The Management Equity Plan shares did not have any vesting conditions, the excess of the grant date fair value of the shares and the amount paid by the employees was therefore recognised as share-based payment expense in full at the time of the grant of the shares. h) Taxation Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the consolidated statements of profit or loss and other comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. Vast’s current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. These are recognised in profit or loss, except when it relates to items that are recognised in other comprehensive income or directly in equity, in which case the current tax is also recognised in other comprehensive income or directly in equity, respectively. Where current tax arises from the initial accounting for a Capital Reorganization, the tax effect is included in the accounting for the Capital Reorganization. Deferred Income tax Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, deferred tax liabilities are not recognised if they arise from the initial recognition of goodwill. Deferred income tax is also not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a Capital Reorganization that, at the time of the transaction, affects neither accounting nor taxable profit or loss and does not give rise to equal taxable and deductible temporary differences. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the end of the reporting period and are expected to apply when the related deferred income tax asset is realised, or the deferred income tax liability is settled. Deferred tax assets are recognised only if it is probable that future taxable amounts will be available to utilise those temporary differences and losses. Deferred tax assets and liabilities are offset where there is a legally enforceable right to offset current tax assets and liabilities and where the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Current and deferred tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively. i) Cash and cash equivalents Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less which are convertible to a known amount of cash and subject to an insignificant risk of change in value, and bank overdrafts. j) Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis. Depreciation rates and methods shall be reviewed at least annually and, where changed, shall be accounted for as a change in accounting estimate. Where depreciation rates or methods are changed, the net written down value of the asset is depreciated from the date of the change in accordance with the new depreciation rate or method. Depreciation recognised in prior financial years shall not be changed, that is, the change in depreciation rate or method shall be accounted for on a ‘prospective ‘basis. The depreciation rates used for each class of depreciable assets are: Class of Property, plant and equipment Depreciation rate Office equipment 10 – 50% An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognised in profit or loss. Impairment of assets At the end of each reporting period, Vast reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). When it is not possible to estimate the recoverable amount of an individual asset, Vast estimates the recoverable amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to individual cash-generating units, or otherwise they are allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified. Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. When an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. k) Provisions Provisions are recognised when Vast has a present obligation (legal or constructive) as a result of a past event, it is probable that Vast will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (where the effect of the time value of money is material). When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received, and the amount of the receivable can be measured reliably. l) Financial instruments Financial assets and financial liabilities are recognised when Vast becomes a party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. For assets and liabilities that are recognised at fair value on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by re-assessing categorisation (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss. All regular way purchases or sales of financial assets are recognised and derecognised on a trade date basis. Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the time frame established by regulation or convention in the marketplace. All recognised financial assets are measured subsequently in their entirety at amortised cost. Classification of financial assets Debt instruments that meet the following conditions are measured subsequently at amortised cost: • the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows; and • the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Vast’s financial assets at amortised cost includes trade receivables. Amortised cost and effective interest method The amortised cost of a financial asset is the amount at which the financial asset is measured at initial recognition minus the principal repayments, adjusted for any loss allowance. The gross carrying amount of a financial asset is the amortised cost of a financial asset before adjusting for any loss allowance. Impairment of financial assets Vast always recognises lifetime expected credit losses (ECL) for trade receivables. The expected credit losses on these financial assets are estimated using a provision matrix based on Vast’s historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate. Derecognition of financial assets Vast derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party. On derecognition of a financial asset in its entirety, the difference between the asset’s carrying amount and the sum of the consideration received and receivable and the cumulative gain or loss that had been recognised in other comprehensive income and accumulated in equity is recognised in profit or loss. Financial liabilities and equities Classification as debt or equity Debt and equity instruments are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument. Equity instruments An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the entity are recognised at the proceeds received, net of direct issue costs. Derivative financial instruments Derivatives are recognised initially at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in profit or loss immediately. Embedded derivatives An embedded derivative is a component of a hybrid contract that also includes a non-derivative host — with the effect that some of the cash flows of the combined instrument vary in a way similar to a stand-alone derivative. Derivatives embedded in hybrid contracts with hosts that are not financial assets within the scope of IFRS 9 (e.g. financial liabilities) are treated as separate derivatives when they meet the definition of a derivative, their risks and characteristics are not closely related to those of the host contracts and the host contracts are not measured at fair value through profit or loss (FVTPL). Further, such derivatives are initially recognised at fair value and the residual amount is the initial carrying value of the host contract liability. An embedded derivative is presented as a non-current asset or non-current liability if the remaining maturity of the hybrid instrument to which the embedded derivative relates is more than 12 months and is not expected to be realised or settled within 12 months. Other financial liabilities Other financial liabilities, including borrowings and trade and other payables, are initially measured at fair value, net of transaction costs. Trade and other payables are recognised and are accrued at year end. Other financial liabilities such as interest-bearing loans and borrowings are subsequently measured at amortised cost using the effective interest method, with interest expense recognised on an effective yield basis. The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or (where appropriate) a shorter period, to the net carrying amount on initial recognition. Modification of financial liabilities: When the contractual terms of a financial liability are substantially modified, it is accounted for as an extinguishment of the original debt instrument and the recognition of a new financial liability. Quantitatively, a modification to the terms of a financial liability is substantial if the net present value of the cash flows under the modified terms, including any fees paid net of any fees received, is at least 10 percent different from the net present value of the remaining cash flows of the liability prior to the modification, both discounted at the original effective interest rate. The new debt instrument is recorded at fair value and any difference from the carrying amount of the extinguished liability, including any non-cash consideration transferred, is recorded in profit or loss. If a modification to the terms of a financial liability is not substantial, then the amortised cost of the liability is recalculated as the present value of the estimated future contractual cash flows, discounted at the original effective interest rate. The resulting gains or losses are recognised in profit or loss. Any costs or fees incurred adjust the carrying amount of the modified financial liability and are amortised over its term. Where the counterparty is a shareholder and changes to terms and conditions were not made to reflect changes in market conditions, the resulting gain or loss from the modification or extinguishment is recognised as a contribution from/distribution to shareholders directly in equity. Derecognition of financial liabilities Vast derecognises financial liabilities when, and only when, Vast’s obligations are discharged, cancelled or they expire. The difference between the carrying amount of the financial liability derecognised and the consideration paid and payable is recognised in the consolidated statements of profit or loss and other comprehensive income. Offsetting of financial instruments Financial assets and financial liabilities are offset, and the net amount is reported in the consolidated statements of financial position if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously. m) Goods and Services Tax Revenues, expenses and assets are recognised net of the amount of goods and services tax (GST), except where the amount of GST incurred is not recoverable from the taxation authority, it is recognised as part of the cost of acquisition of an asset or as part of an item of expense. The net amount of GST recoverable from, or payable to, the taxation authority is included as part of receivables or payables. This is calculated on a cash-settled basis and then accrued for a year end. Cash flows are included in the cash flow statement on a gross basis. The GST component of cash flows arising from investing and financing activities which is recoverable from, or payable to, the taxation authority is classified within operating cash flows. n) Leases Vast as lessee Vast assesses whether a contract is or contains a lease, at inception of the contract. Vast recognises a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets (such as tablets and personal computers, small items of office furniture and telephones). For these leases, Vast recognises the lease payments as an operating expense on a straight-line basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease, if this rate cannot be readily determined, the lessee uses its incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise: • fixed lease payments (including in substance fixed payments), less any lease incentives receivable; • variable lease payments that depend on an index or rate, initially measured using the index or rate at the commencement date; • the amount expected to be payable by the lessee under residual value guarantees; • the exercise price of purchase options, if the lessee is reasonably certain to exercise the options; and • payments of penalties for terminating the lease, if the lease term reflects the exercise of an option to terminate the lease The lease liability is presented as a separate line in the consolidated statements of financial position. The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made. Vast remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever: • the lease term has changed or there is a significant event or change in circumstances resulting in a change in the assessment of ex

Revenue from Customers

Revenue from Customers	12 Months Ended
Revenue from Customers	Jun. 30, 2024
Disclosure of disaggregation of revenue from contracts with customers [abstract]
Revenue from Customers	(3) Revenue from Customers Year ended June 30, 2024 2023 2022 (In thousands of US Dollars) Consulting fees $ 336 $ 170 $ 140 Margin fees 6 98 23 $ 342 $ 268 $ 163 Consulting fees Revenue from consulting fees in relate to the design, engineering and project management services for a solar facility owned by Commonwealth Scientific and Industrial Research Organisation (CSIRO), and is recognised based on the actual services provided to them at the end of the reporting period as a proportion of the total services to be provided. Revenue is recognised over time as the customer receives and uses the benefits from consulting services simultaneously. This is determined based on the actual labour hours spent relative to the total expected labour hours for each project or contract. Estimates of revenues, costs or extent of progress toward completion are revised if circumstances change. Any resulting increases or decreases in estimated revenue or costs are reflected in profit or loss in the period in which the circumstances that give rise to the change become known by management. In the case of fixed-price contracts, the customer pays the fixed amount based on a payment schedule. If the services rendered by Vast exceed the payment, a contract asset is recognised. If the payments exceed the services rendered, a contract liability is recognised. Margin fees In relation to the facility mentioned above, Vast is charging a margin fee in the form of 10% administration and handling fee for the procurement of equipment, components, and materials on behalf of CSIRO. The Company recognises revenue from procurement service at a point in time when goods are acquired and are presented net of relevant gross receipts and gross payments. Disaggregation of revenue from contracts with customers Vast’s revenue is currently derived in Australia. For the year ended June 30, 2024, most of the revenue from customers was earned from a single customer, CSIRO (and almost all revenue from customers for the year ended June 30, 2023 was earned from CSIRO). Vast’s revenue from the transfer of goods and services over time and at a point in time is as follows: Year Ended June 30, 2024 2023 2022 (In thousands of US Dollars) CSIRO $ 246 $ 253 $ 163 Other 96 15 — $ 342 $ 268 $ 163 Timing of revenue recognition: At a point in time $ 342 $ 199 $ 23 Over time — 69 140 $ 342 $ 268 $ 163 (10) Contract Liabilities June 30, 2024 2023 (In thousands of US Dollars) Unearned revenue — 2

Grant Revenue

Grant Revenue	12 Months Ended
Grant Revenue	Jun. 30, 2024
Revenue [abstract]
Grant Revenue	(4) Grant Revenue Year Ended June 30, 2024 2023 2022 (In thousands of US Dollars) ARENA grant $ — $ — $ 1,001 R&D tax credit recoveries — 651 753 $ — $ 651 $ 1,754 a) ARENA grant Contributions have been received from the Australian Renewable Energy Agency (ARENA) in relation to funding a 30MW concentrated solar thermal power reference plan variation contract (variation funding agreement) and associated R&D activities. See Note 23 – Contingent Asset, Liabilities & Commitments. Government grants are deferred when received and subsequently recognised in profit or loss in line with the recognition of expenses for which the grants were intended to compensate. As of June 30, 2024 and 2023, respectively, no grant income was deferred on the balance sheet, all of the deferred grant income as of June 30, 2022 has been recognised in profit during the year ended June 30, 2023. b) Research and Development tax incentives In order to encourage more investing in R&D, the Australian government offers a tax incentive that reduces the Company’s R&D costs by offering tax offsets for eligible R&D expenditure. For the year ended June 30, 2024, Vast is entitled to future tax offsets for qualifying R&D expenditure. Vast carries forward such allowances as future tax credits for the period in which the related R&D expenses are recognised in accordance with IAS 12.(No deferred tax asset was recorded for these tax credits). In the year ended June 30, 2023, Vast received a cash refundable R&D tax offset in respect of its eligible R&D expenditure and recorded below in accordance with IAS 20. R&D tax incentives Year Ended June 30, 2024 2023 2022 (In thousands of US Dollars) Refundable R&D tax offset for the year $ — $ 651 $ 753 R&D Tax credit recoveries recognised as grant income $ — $ 651 $ 753

Expenses

Expenses	12 Months Ended
Expenses	Jun. 30, 2024
Analysis of income and expense [abstract]
Expenses	(5) Expenses Net loss includes the following expenses: Year Ended June 30, 2024 2023 2022 (In thousands of US Dollars) Raw materials and consumables used: Raw materials and consumables cost $ 783 $ 572 $ 205 Power and fuel expense 32 28 36 815 600 241 Consultancy expenses: Consulting – Corporate 880 926 760 Consulting – Projects 3,062 1,208 1,174 3,943 2,134 1,934 Administrative and other expenses: Legal and accounting expenses 5,224 7,151 1,163 Subscriptions, software and licences 248 239 137 Travelling expenses 366 253 84 Marketing expenses 933 111 58 Share base payment expenses 1 2,314 — — Other expenses 1,444 326 176 10,529 8,080 1,618 Employee benefits expenses: Salaries and wages 4,460 2,554 2,412 Superannuation 391 242 215 Payroll tax 254 111 92 Employee entitlements – annual leave (AL) 130 42 15 Employee entitlements – long service leave (LSL) 39 34 22 5,274 2,984 2,756 Gain/loss on derivative financial instruments: Realised loss on Convertible Notes 3, 4 and 4, and Senior Convertible Notes issued to AgCentral Energy 2 170,376 — — Unrealised gain on Convertible Notes 3, 4 and 4, and Senior Convertible Notes issued to AgCentral Energy — (105) 3 Unrealised gain on Promissory Note issued to EDF 2 (4,912) — — Unrealised gain on NETC Warrants 2 (400) — — Exchange differences (129) — — 164,935 (105) 3 Share-based listing expense 106,055 — — $ 106,055 $ — $ — During the years ended June 30, 2024, 2023, and 2022, Vast incurred research and development related expenses of $2.20 million, $1.50 million and $1.58 million respectively, which are included within the expenditure categories above as they do not meet the capitalisation requirements of IAS 38 Intangible Assets . (1) Refer to note Note 20 – Reserves for more details relating to share based payment expenses. (2) Refer to note Note 22 – Financial Instruments - Fair Value and Financial Risk management for further details.

Income Tax Benefit

Income Tax Benefit	12 Months Ended
Income Tax Benefit	Jun. 30, 2024
Income taxes paid (refund) [abstract]
Income Tax Benefit	(6) Income Tax Benefit Year Ended June 30, 2024 2023 2022 (In thousands of US Dollars) Current tax expense $ — $ — $ — Deferred tax expense Decrease/(increase) in deferred tax assets (1,256) 176 (91) (Decrease)/increase in deferred tax liabilities 1,256 (554) (527) — (378) (618) Income tax (expense) / benefit $ — $ 378 $ 618 Reconciliation of income tax benefit Year Ended June 30, 2024 2023 2022 (In thousands of US Dollars) Loss before income tax: $ (293,445) $ (15,595) $ (6,811) Income tax benefit calculated at 30% (25% - 2022 & 2023) (88,030) (3,899) (1,703) Add: Commercial debt forgiveness gain 4,615 — — Less: Use of previously unrecognised tax now recouped to reduce current tax expense (3,877) — — Less: Use of Blackhole expenditure reserve to reduce current tax expense (738) — — Add: Non-deductible expenses 82,134 1,401 60 Add: Tax losses not recognised 5,240 1,907 781 Add: Accounting expenditure subject to R&D 655 374 432 Less: R&D tax recovery — (163) (188) Income tax benefit $ — $ (378) $ (618) As per Note 4 – Grant Revenue, Vast is entitled to R&D offsets for qualifying R&D expenditure. For June 30, 2023 and June 30, 2022, these offsets were recorded as income, and relevant adjustments have been shown in the reconciliation above as a result. For June 30, 2024, Vast carries forward such allowances as future tax credits for the period in which the related research and development (R&D) expenses are recognised in accordance with IAS 12. No deferred tax assets were recorded for these tax credits. The tax rate applied to taxable profit is the standard rate of corporations’ tax of 30% for the year ended June 30, 2024. The reduced corporate tax rate of 25% under the Base Rate Entity regime was applied for the years ended June 30, 2023 and June 30, 2022. Non-deductible expenses for June 30, 2024 consists mainly of unrealised loss on derivative financial instruments and share-based listing expense incurred as part of the Capital Reorganisation. (Refer to Note 22 – Financial Instruments - Fair Value and Financial Risk management and Note 25 – Capital reorganization (the “SPAC Merger”) respectively). Tax losses and Unrecorded Deferred Tax Assets As at June 30, 2024, Vast has unused tax losses of $12.21 million, $3.66 million tax effected ($12.55 million as of June 30, 2023) for which no deferred tax asset has been recognised, with unused R&D tax credit of $0.85 million tax effected (nil for June 30, 2023), $2.28 million unused (tax effected $0.68 million) Blackhole expenditure reserve ($0.9 million for June 30, 2023), $0.33 million (nil for June 30, 2023) tax effected investment in SiliconAurora and $0.81 million (nil for June 30, 2023) tax effected for interest expense, for which no deferred tax asset was recognized. Deferred tax assets have not been recognised for the unused tax losses as they are not likely to generate taxable income in the foreseeable future. They can be carried forward indefinitely subject to eligibility conditions. During the year ended June 30, 2024, as part of the Capital Reorganisation, Vast entered into a Noteholder Support and Loan Termination Agreement whereby each of the convertible promissory notes held by AgCentral Energy will be discharged and terminated in exchange for Ordinary Shares, as repayment of all the principal outstanding and accrued interest immediately prior to the Capital Reorganisatin process. As such requirements of the Commercial Debt Forgiveness provisions of the income tax legislation applied, and a gain on forgiveness arose where the market value of the commercial debt amount released was greater than the market value of the shares issued. The net forgiven tax gain upon consummation of the Capital Reorganisation was $15.6 million. The gain on forgiveness was applied to reduce the tax losses brought forward as at June 30, 2023, and tax credit from Blackhole expenditure incurred in previous income years. During the year ended June 30, 2024, Vast has elected to form an income tax consolidated group (TCG) effective from 1 July 2023 and the election has been processed by the Australian Taxation Office. The TCG comprises Vast Renewables Limited and its 9 wholly owned Australian subsidiaries (refer to Note 14 – Interest in other entities). Current & deferred tax liabilities/assets Year Ended June 30, 2024 2023 (In thousands of US Dollars) Current tax assets R&D tax incentive receivable $ — $ 638 — 638 Deferred tax assets 1,675 419 Deferred tax liabilities (1,675) (419) Net deferred tax (liability)/asset $ — $ — Deferred tax balance movement for the year ended June 30, 2024: a) Deferred tax assets As of July 1, (Charged)/ credited to profit or loss* Movement in equity Exchange differences (charged)/credited to comprehensive loss As of June 30, (In thousands of US Dollars) Derivative financial instruments $ — $ 169 $ — $ — $ 169 Contract liabilities 1 (1) — — — Lease liabilities 13 117 — — 130 Share of loss of equity-accounted investee 15 (15) — — — Unused tax losses carryforwards 390 (390) — — — Provisions and accruals — 400 — 2 $ 402 Patent expenditure — 88 — 1 89 Blackhole expenditure — 884 — — 884 Deferred tax assets $ 419 $ 1,253 $ — $ 3 $ 1,675 * This includes impact of the change in tax rate during the year. b) Deferred tax liabilities As of July 1, (Charged)/ credited to profit or loss* Movement in equity Exchange differences (charged)/credited to comprehensive loss As of June 30, (In thousands of US Dollars) Borrowings and other financial liabilities $ (390) $ (1,137) $ — $ (16) $ (1,543) Property, plant and equipment (8) 3 — 1 (5) Unrealised foreign exchange gain — (13) — — $ (13) Right of use asset (10) (103) — (1) (114) Prepaid expenses (11) 11 — — — $ (419) $ (1,239) $ — $ (16) $ (1,675) * This includes impact of the change in tax rate during the year. Deferred tax balance movement for the year ended June 30, 2023: a) Deferred tax assets As of July 1, (Charged)/ credited to profit or loss Movement in equity Exchange differences (charged)/credited to comprehensive loss As of June 30, (In thousands of US Dollars) Derivative financial instruments $ 8 $ (8) $ — $ — $ — Deferred income 26 (24) — (1) 1 Lease liabilities 23 (9) — (1) 13 Share of loss of equity-accounted investee 2 13 — — 15 Unused tax losses carryforwards 466 (58) — (18) 390 Provisions and accruals 93 (90) — (3) — Deferred tax assets $ 618 $ (176) $ — $ (23) $ 419 b) Deferred tax liabilities As of July 1, (Charged)/ credited to profit or loss Movement in equity Exchange differences (charged)/credited to comprehensive loss As of June 30, (In thousands of US Dollars) Borrowings – convertible notes $ (585) $ 551 $ (378) $ 22 $ (390) Property, plant and equipment (5) (3) — — (8) Right of use asset (20) 10 — — (10) Prepaid expenses (8) (4) — 1 (11) Deferred tax liabilities $ (618) $ 554 $ (378) $ 23 $ (419)

Loss per share

Loss per share	12 Months Ended
Loss per share	Jun. 30, 2024
Earnings per share [abstract]
Loss per share	(7) Loss per share Year Ended June 30, 2024 2023 2022 (In thousands of US Dollars, except per share amounts) Basic loss per share Basic loss per share (17.50) (7.08) (2.88) Diluted loss per share Diluted loss per share (17.50) (7.08) (2.88) Reconciliations of loss used in calculating loss per share Basic loss per share Net loss (293,445) (15,217) (6,193) Diluted loss per share Loss used in calculating diluted loss per share (293,445) (15,217) (6,193) Weighted average number of shares used as the denominator (in thousands) Weighted average number of ordinary shares used as the denominator in calculating basic loss per share 16,764 2,149 2,149 Weighted average number of ordinary shares and potential ordinary shares used as the denominator in calculating diluted loss per share 16,764 2,149 2,149 The convertible notes and warrants disclosed in Note 13 – Borrowings and other financial liabilities and Note 12 – Warrants Liability, have not been included in the calculation of diluted loss per share because they are antidilutive for the years ended June 30, 2024,2023 and 2022 due to Vast being in a loss making position. The shares from the Backstop agreement could potentially dilute basic earnings per share in the future.

Prepaid Expenses

Prepaid Expenses	12 Months Ended
Prepaid Expenses	Jun. 30, 2024
Subclassifications of assets, liabilities and equities [abstract]
Prepaid Expenses	(8) Prepaid Expenses Year ended June 30, 2024 2023 (In thousands of US Dollars) Prepaid insurance 1,841 29 Other prepaid expenses 46 15 1,887 44 As at June 30, 2024, the balance of prepaid insurance is predominantly comprised of the one year cover for Directors and Officers, effective from the date of the capital reorganisation.

Trade and other receivables

Trade and other receivables	12 Months Ended
Trade and other receivables	Jun. 30, 2024
Subclassifications of assets, liabilities and equities [abstract]
Trade and other receivables	(9) Trade and other receivables Year ended June 30, 2024 2023 (In thousands of US Dollars) Trade receivables $ 831 $ 4 Goods and Service Tax receivable 8 204 Other receivables — 106 $ 839 $ 314 The trade receivables are recognised at their carrying value less any expected credit losses. Vast’s average credit period is 30 days. Expected credit losses are recognised against trade receivables based on specific irrecoverable amounts determined by reference to past default experience of the counterparty and an analysis of the counterparty’s current financial position. The primary customers of Vast are government organisations, a large Australian state-owned electricity generator and its partners in the Joint Arrangement (EDF Australia Pacific Pty Ltd) and in the Joint Venture (SiliconAurora Pty Ltd). There have been no issues with payment collections or any experiences of default with Vast’s customers. Accordingly, there are no expected credit losses for 2024 and 2023.

Contract Liabilities

Contract Liabilities	12 Months Ended
Contract Liabilities	Jun. 30, 2024
Contract liabilities [abstract]
Contract Liabilities	(3) Revenue from Customers Year ended June 30, 2024 2023 2022 (In thousands of US Dollars) Consulting fees $ 336 $ 170 $ 140 Margin fees 6 98 23 $ 342 $ 268 $ 163 Consulting fees Revenue from consulting fees in relate to the design, engineering and project management services for a solar facility owned by Commonwealth Scientific and Industrial Research Organisation (CSIRO), and is recognised based on the actual services provided to them at the end of the reporting period as a proportion of the total services to be provided. Revenue is recognised over time as the customer receives and uses the benefits from consulting services simultaneously. This is determined based on the actual labour hours spent relative to the total expected labour hours for each project or contract. Estimates of revenues, costs or extent of progress toward completion are revised if circumstances change. Any resulting increases or decreases in estimated revenue or costs are reflected in profit or loss in the period in which the circumstances that give rise to the change become known by management. In the case of fixed-price contracts, the customer pays the fixed amount based on a payment schedule. If the services rendered by Vast exceed the payment, a contract asset is recognised. If the payments exceed the services rendered, a contract liability is recognised. Margin fees In relation to the facility mentioned above, Vast is charging a margin fee in the form of 10% administration and handling fee for the procurement of equipment, components, and materials on behalf of CSIRO. The Company recognises revenue from procurement service at a point in time when goods are acquired and are presented net of relevant gross receipts and gross payments. Disaggregation of revenue from contracts with customers Vast’s revenue is currently derived in Australia. For the year ended June 30, 2024, most of the revenue from customers was earned from a single customer, CSIRO (and almost all revenue from customers for the year ended June 30, 2023 was earned from CSIRO). Vast’s revenue from the transfer of goods and services over time and at a point in time is as follows: Year Ended June 30, 2024 2023 2022 (In thousands of US Dollars) CSIRO $ 246 $ 253 $ 163 Other 96 15 — $ 342 $ 268 $ 163 Timing of revenue recognition: At a point in time $ 342 $ 199 $ 23 Over time — 69 140 $ 342 $ 268 $ 163 (10) Contract Liabilities June 30, 2024 2023 (In thousands of US Dollars) Unearned revenue — 2

Trade and Other Payables

Trade and Other Payables	12 Months Ended
Trade and Other Payables	Jun. 30, 2024
Subclassifications of assets, liabilities and equities [abstract]
Trade and Other Payables	(11) Trade and Other Payables June 30, 2024 2023 (In thousands of US Dollars) Trade payables 1,184 1,264 Accrued expenses 3,749 4,280 Other payables 225 78 5,157 5,622

Warrants Liability

Warrants Liability	12 Months Ended
Warrants Liability	Jun. 30, 2024
Subclassifications of assets, liabilities and equities [abstract]
Warrants Liability	(12) Warrants Liability June 30, 2024 2023 (In thousands of US Dollars) Warrants liability 3,670 — 3,670 — Vast Warrants exchanged in lieu of NETC Warrants consist of 27,529,987 potential ordinary shares, comprised of: (i) 13,799,987 Ordinary Shares that are issuable by us upon the exercise of 13,799,987 Public Warrants, and (ii) 13,730,000 Ordinary Shares that are issuable by the Company upon the exercise of 13,730,000 private placement warrants exercisable for Ordinary Shares (the "Private Warrants" and together with the Public Warrants, the "Vast Warrants"). Each Vast Warrant entitles the holder to purchase 1 Ordinary Share at an exercise price of $ 11.50 per share, with substantially the same terms as those of the corresponding NETC Warrant . Key attributes of the NETC and Vast Warrants are summarised below: • NETC warrants issuance date: November 16, 2021 , assumed by Vast on December 18, 2023 • Maturity date: 5 years from the date of consummation of the Capital Reorganisation • Exercisable: at any time after 30 days from the date of consummation of the Capital Reorganisation • Private Warrants may not be sold or transferred for 30 days from the date of consummation of the Capital Reorganisation • Public Warrants may be redeemed by Vast at a nominal price if the stock price, when the Public Warrant is exercisable, reaches a threshold price for 20 out of 30 consecutive trading days as follows: ◦ Redemption price: $0.01 ◦ Threshold price: $18.00 Effective upon consummation of the Capital Reorganisation , • each Vast Warrant is exercisable solely for Ordinary Shares; • the number of Ordinary Shares issuable upon exercise of each Vast Warrant is equal to the number of shares of NETC Class A Common Stock that were issuable upon exercise of the applicable NETC warrant, as in effect immediately prior to the consummation of the Capital Reorganisation ; • the per share exercise price for the Ordinary Shares issuable upon exercise of such Vast Warrant is equal to the per share exercise price for the shares of NETC Class A Common Stock subject to the applicable NETC warrant, as in effect immediately prior to the consummation of the Capital Reorganisation . Both Public and Private Warrants are accounted for as liabilities under IFRS 9 following consummation of the Capital Reorganisation and valued at the Public Warrants trading price. Accordingly, they will be subject to ongoing mark- to-market adjustments through the statement of profit or loss. As at June 30, 2024 , the fair value of Private and Public Warrants has been determined as the quoted price of $ 0.13 .

Borrowings and other financial

Borrowings and other financial liabilities	12 Months Ended
Borrowings and other financial liabilities	Jun. 30, 2024
Borrowings [abstract]
Borrowings and other financial liabilities	(13) Borrowings and other financial liabilities June 30, 2024 June 30, 2023 Current Non-current Current Non-current (In thousands of US Dollars) Convertible Notes - AgCentral Energy — — 14,281 — Senior Convertible Notes - AgCentral Energy and Nabors Lux — — — 7,134 Shareholders Loan - AgCentral Energy — — 5,531 — Promissory Note - EDF — 5,869 — — Backstop Agreement - Nabors — 6,953 — — — 12,821 19,812 7,134 a) Promissory Note – EDF On December 18, 2023, Vast Intermediate HoldCo Pty Ltd (HoldCo) issued a Promissory Note to EDF Australia Pacific Pty Ltd (EDF). The key contractual terms of the Promissory Note have been summarised below: (1) The Noteholder is EDF Australia Pacific Pty Ltd. (2) The Promissory Note has a Face Value equivalent to EURO 10,000,000 converted into US $10,831,953 at the USD:EUR exchange rate on Bloomberg on the Closing Date. (3) The Promissory Note will accrue interest at 3% per annum. Interest accrues daily on the daily balance of the outstanding principal amount. (4) The Promissory Note has a term of 5 years from the date of issuance; however the maturity date may be extended for a period of 2 years at HoldCo’s option by written notice to EDF. On written notice from HoldCo, EDF must extend. (5) EDF has the right to exchange all or any portion of the outstanding principal amount and interest on the Promissory Note into ordinary shares of Vast at an exchange rate of US $10.20 per share for a period of 5 years (7 years, if extended) following the Closing Date. Any partial exchange cannot be less than US$2,000,000. The exchange is conditional on satisfaction of an exchange condition being, EDF has invested at least US$20,000,000 in the project entity of a CSP Project (as defined in the Promissory Note). The project entity of a CSP Project pertains to the standalone entity incorporated for the purpose of developing the CSP Project. EDF can elect to invest an amount up to 75% of the total equity contribution in to a project entity. The remaining portion is Vast’s contribution. A separate joint venture agreement will also be entered into for each approved CSP project. This is governed by the ‘Joint Development Agreement’ entered into between Vast and EDF in connection with the ‘Note Purchase Agreement’. Please refer to Note 23 – Contingent Asset, Liabilities & Commitments for further discussion on the Joint Development Agreement. (6) New investment clause: a) If Vast enters into an agreement with certain specified entities, pursuant to which such entities will pay or contribute funds to Vast, the terms of the agreement in respect to security or priority; duration; or interest rate should not be more favourable than that of the Promissory Note. If the terms are more favourable, then the terms of EDF's agreement will be automatically amended to match such other parties’ terms. b) If Vast enters into an agreement to raise capital from third party strategic investors (other than the specified entities) through a privately negotiated transaction and any such funds are used to repay the Nabors Backstop Loan then the terms should be no more favourable than the terms of the Promissory Note. If the terms are more favourable, the terms of the Promissory Note shall be automatically amended to match such more favourable terms. As at June 30, 2024, management has evaluated that HoldCo remains in compliance with all covenants, financial (including a prohibition on the declaration or payment of dividends) and non-financial, with respect to the Promissory Note. As at June 30, 2024, Vast has evaluated its issuance of the Promissory Note to determine if the components qualify as derivatives requiring separate recognition in Vast's financial statements. The Company has determined the new investment clause, and conversion and interest settlement features at the option of noteholder, to be an ‘embedded derivative’ requiring recognition separate from the borrowings. After the recognition of the embedded derivative, the Company recognises the Promissory Note at amortised cost, with interest expense recognised on an effective yield basis over the tenure of the Promissory Note. The result of this accounting treatment is that the fair value of the embedded derivative is revalued at each balance sheet date and recorded as a liability, and the change in fair value during the reporting period is recorded in other income (expense) in the consolidated statement of profit or loss. The current or non-current classification of derivative instruments is reassessed at the end of each reporting period. The embedded derivative as part of such contracts have been tabulated below: Component Particulars June 30, 2024 June 30, 2023 (In thousands of US Dollars) Embedded derivative Promissory Note – EDF 561 — 561 — On the issuance date, the Embedded derivative liability was recognised at $5.5 million. The Company’s closing share price on the first day of trading, i.e. $11.99 was used, being the closest observable market price to the valuation date. As at June 30, 2024 the valuation of the instrument was measured at $0.6 million, the reduction being predominantly driven by the significant decrease in the Company’s share price during the period since issuance ($2.28 as at June 30, 2024). The conversion option was measured at fair value through profit or loss, driving an unrealised gain of $4.9 million during the period ended June 30, 2024. Refer to volatility and effective interest rate assumptions discussed in Note 22 – Financial Instruments - Fair Value and Financial Risk management. Twelve Months Ended June 30, 2024 2023 (In thousands of US Dollars) Interest expense by applying effective interest rate Promissory Note – EDF 522 — 522 — The average effective interest rate applied during the year ended June 30, 2024 is 17.47%. b) Nabors Backstop Agreement On October 19, 2023, Vast entered into a Backstop Agreement (the “Nabors Backstop Agreement”) pursuant to which Nabors Lux agreed to purchase up to $15.0 million of Ordinary Shares at a purchase price of $10.20 per share (the “Nabors Backstop”). On December 7, 2023, Nabors Lux and the Company entered into an amendment to the Nabors Backstop Agreement (the “Nabors Backstop Agreement Amendment”) pursuant to which, among other things, Nabors Lux’s commitment to purchase Ordinary Shares was reduced to up to $10.0 million. The Nabors Backstop served as a backstop for redemptions of NETC Class A Common Stock by NETC public stockholders in connection with the Capital Reorganisation and subsequent capital raised by the Company prior to or in connection with Closing from additional third parties (other than Nabors, AgCentral, CAG, EDF and their respective affiliates). The Nabors Backstop Agreement Amendment also provided that amounts under the Nabors Backstop would be funded on or before January 9, 2024. Pursuant to the Nabors Backstop Agreement Amendment, the EDF Note Purchase Agreement did not reduce the amount to be funded under the Nabors Backstop. Accordingly, the amount invested by Nabors pursuant to the Nabors Backstop was reduced below $10.0 million, dollar-for-dollar, by the balance of the cash remaining in the Trust Account after giving effect to any redemptions of NETC Class A Common Stock by NETC public stockholders in connection with the Capital Reorganisation (excluding the amount remaining as a result of the Canberra Subscription, but including the amount remaining as a result of the Canberra Non-Redemption Agreement). On January 12, 2024, and pursuant to the Nabors Backstop Agreement, Vast issued 681,620 Ordinary Shares to Nabors Lux for an aggregate of $7.0 million or $10.20 per share. Vast assessed its obligations under the Backstop Agreement meet the definition of a financial liability mainly due to the fact that the contingent settlement feature is outside of the control of the Company. As such, as at June 30, 2024 the Nabors’ subscription was classified as a financial liability carried at fair value through profit or loss by application of IFRS 9. The fair value of the derivative did not change at June 30, 2024. c) Convertible Notes - AgCentral Energy and Nabors Lux Below is the detailed breakdown of the face value for each convertible note issuance (excluding the issuance of incremental notes by way of capitalised coupon payments) and the timing of their respective tranche payments, up to October 24, 2023, last tranche payment prior to the consummation of the Capital Reorganization: Note Face Value per note (AUD) Tranche Issuance Date No. of notes issued Total Face value (In thousands of AU Dollars) Total Face value (In thousands of US Dollars) Convertible Note 3 349.34 1 June 30, 2016 26,802 9,363 6,548 2 September 15, 2016 715 250 172 3 November 23, 2016 715 250 170 9,863 6,890 Convertible Note 4 17.68 1 January 18, 2018 62,216 1,100 876 2 January 31, 2018 5,656 100 81 3 February 7, 2018 11,312 200 158 4 February 26, 2018 8,484 150 118 5 March 23, 2018 25,452 450 347 6 May 23, 2018 11,313 200 151 7 May 28, 2018 11,313 200 152 8 June 12, 2018 47,511 840 640 9 September 10, 2019 105,602 1,867 1,280 10 September 25, 2019 70,701 1,250 848 6,357 4,651 Convertible Note 5 0.01 1 August 11, 2020 87,500,000 875 628 2 April 27, 2021 87,500,000 875 682 1,750 1,310 Senior Convertible Note USD1.00 1 February 15, 2023 2,500,000 3,604 2,500 2 April 13, 2023 2,500,000 3,731 2,500 3 June 27, 2023 2,500,000 3,725 2,500 4 August 15, 2023 2,500,000 3,839 2,500 5 October 24, 2023 2,500,000 3,931 2,500 18,830 12,500 36,800 25,351 Convertible Notes 3, 4 and 5 issued by Vast were subjected to the same terms, which are as follows: (1) The Noteholder is AgCentral Energy Pty Ltd, the parent entity of Vast. (2) The Noteholder can elect to convert any or all outstanding convertible notes into ordinary shares by providing written notice to Vast. Each outstanding note can be converted into one ordinary share (‘conversion’). (3) Coupon interest is payable at the rate of 8% per annum on the principal outstanding. Interest accrues daily and is payable every twelve months. (4) Within the first 18 months of issuance, Vast has the option to settle interest payments in cash or by issuance of additional convertible notes. After the first 18 months, the Noteholder has the option to choose settlement of interest by payment in cash or by issuance of additional convertible notes (‘interest settlement’). Refer to Note 19 – Issued Capital for details on conversion of these notes upon consummation of the Capital Reorganisation. Senior Convertible Notes issued by Vast were subjected to the following terms: (1) The Noteholder of Tranche 2 and 4 is AgCentral Energy, the parent entity of Vast. The Noteholder of Tranches 1, 3 and 5 is Nabors Lux. (2) The Senior Convertible Notes will accrue interest at 4% per annum, ceasing when the Senior Convertible Notes are either redeemed or converted into ordinary shares. Interest is payable six months in arrears. The Company may, at its discretion (but with notice to the Noteholders), pay interest in cash or capitalise interest to the principal amount outstanding for each Senior Convertible Note. (3) If the Company undergoes a business combination, the Senior Convertible Notes will mandatorily be converted to ordinary shares in this instance, with the conversion price based on the market price of shares at a 25% discount. (4) If the Company undergoes a Special Purpose Acquisition Company (“SPAC”) transaction, the Senior Convertible Notes will mandatorily be converted to ordinary shares in this instance, with the conversion price fixed at $10.20. (5) If the Company undergoes an event of default or change of control, the Noteholders may choose to either redeem the Senior Convertible Notes for cash or convert them into ordinary shares. In a conversion event, the conversion price will be based on the market price of shares at a 25% discount. (6) The conversion of the notes is at the discretion of Vast (other than in a scenario where conversion is mandated), if they are held to maturity. Each Senior Convertible Note has a term of 18 months from the date of issuance. Up to the consummation of the Capital Reorganization on December 18, 2023, Vast has evaluated its issuance of each convertible note, including the Senior Convertible Notes, to determine if the components qualify as derivatives requiring separate recognition in its financial statements. The Company has determined the conversion and interest settlement features at the option of noteholder, to be an ‘embedded derivative’ requiring recognition separate from the borrowings. After the recognition of the embedded derivative, the Company recognises the convertible notes at amortised cost, with interest expense recognised on an effective yield basis over the tenure of convertible notes. The result of this accounting treatment is that the fair value of the embedded derivative is revalued at each balance sheet date and recorded as a liability, and the change in fair value during the reporting period is recorded in other income (expense) in the consolidated statement of profit or loss. The current or non-current classification of derivative instruments is reassessed at the end of each reporting period. Refer to Note 22 – Financial Instruments - Fair Value and Financial Risk management for further details. The embedded derivative as part of such hybrid contracts i.e. convertible notes have been tabulated below: June 30, Component Particulars 2024 2023 (In thousands of US Dollars) Embedded derivative Convertible Note 3 — — Convertible Note 4 — — Convertible Note 5 — 18 Senior Convertible Note — 174 — 192 Interest expense by applying respective effective interest rate applicable to the tranches Convertible Note 3 431 950 Convertible Note 4 506 995 Convertible Note 5 58 127 Senior Convertible Note 309 94 1,304 2,166 The average effective interest rate applied during the year ended June 30, 2024 is 22.63% (year ended June 30, 2023: 24.31%). d) Loan from shareholder – AgCentral Energy During the prior year, Vast received interest free loans without any covenants of approximately $5.7 million (AUD8.6 million) from its shareholder to fund its short-term working capital requirements. The shareholder loans were converted to equity at the commencement of the capital reorganization. Refer to details in (25) Capital reorganization (the “SPAC Merger”). The prior year gains arising as a result of the extension of maturity and obtaining funding at off-market terms were recognised directly in equity as a contribution by owners in their capacity as owners. The average effective interest rate applied during the year ended June 30, 2024 is 5.90% (year ended June 30, 2023: 6.47%). Twelve Months Ended June 30, 2024 2023 2022 (In thousands of US Dollars) Interest expense by applying effective interest rate Shareholder Loan – AgCentral Energy 159 295 17

Interest in other entities

Interest in other entities	12 Months Ended
Interest in other entities	Jun. 30, 2024
Interest in Entities [Abstract]
Interest in other entities	(14) Interest in other entities a) Subsidiaries Place of Ownership interest Name Type 2024 2023 Nabors Transition Energy Corp Subsidiary United States 100 % 0 % Neptune Merger Sub, Inc. Subsidiary United States 0 % 100 % NWQHPP Pty Ltd Subsidiary Australia 100 % 100 % Solar Methanol 1 Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar Aurora Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar 1 Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar Consulting Pty Ltd Subsidiary Australia 100 % 100 % Vast Employee Shareholdings Pty Ltd Subsidiary Australia 100 % 0 % Vast Intermediate HoldCo Pty Ltd Subsidiary Australia 100 % 0 % Vast Australia HoldCo Pty Ltd Subsidiary Australia 100 % 0 % HyFuel Solar Refinery Pty Ltd Subsidiary Australia 100 % 0 % Vast Renewables HoldCo Corp Subsidiary United States 100 % 0 % Vast Renewables Management Services LLC Subsidiary United States 100 % 0 % Vast US Projects HoldCo Corp Subsidiary United States 100 % 0 % El Paso ProjectCo LLC Subsidiary United States 100 % 0 % Vast has fourteen wholly owned subsidiaries, incorporated in Australia and the United States as at June 30, 2024 (twelve as at June 30, 2023). It has share capital consisting solely of ordinary shares that are held directly by Vast and the proportion of ownership interests held equals the voting rights held by Vast. NWQHPP Pty Ltd, Vast Solar 1 Pty Ltd and Vast Solar Consulting Pty Ltd are non-operational, with no activities performed during the years ended June 30, 2024 and 2023. Solar Methanol 1 Pty Ltd was incorporated during the year ended June 30, 2024 and is non-operational with no activities performed during the year. Vast Intermediate HoldCo Pty Ltd, Vast Australia HoldCo Pty Ltd, HyFuel Solar Refinery Pty Ltd, Vast Renewables HoldCo Corp and El Paso ProjectCo LLC were incorporated during the year ended June 30, 2024 and are non-operational with no activities performed during the period. Under the steps of the Capital Reorganization, Neptune Merger Sub, Inc. merged with and into NETC, with NETC surviving the merger as a wholly owned subsidiary of Vast. Up to its merger with Neptune Merger Sub Inc., Nabors Transition Energy Corp reported under the Securities Exchange Act of 1934 with a financial year ended December 31. During the year ended June 30, 2024 Vast formed, Vast Renewables Management Services LLC, a Delaware limited liability company providing services to Vast under its Intercompany Services Agreement and Vast Employee Shareholdings Pty Ltd, acting under the Employee Share Trust Deed as the first trustee of the Trust for the benefit of participants in Vast’s Equity Remuneration Schemes. b) Joint arrangements i. Joint operation During the year ended June 30, 2024, Vast Renewables Limited, entered into an arrangement to co-develop Australian CSP projects that will further Australia’s transition to a clean-energy economy with EDF Australia Pacific Pty Ltd ("EDF"). Vast will own 50% of the each eligible project starting December 8, 2023 and will share in development expenses and liabilities in the same ratio. Vast recognises its direct right to the assets, liabilities, revenues and expenses of joint operations and its share of any jointly held or incurred assets, liabilities, revenues and expenses. During the year, Vast recognised its 50% share of the total expenses incurred and invoiced reimbursement receivable from joint operator for the excess portion as tabulated below: June 30, Particulars 2024 2023 (In thousands of US Dollars) Total expense incurred by both participants (a) 1,340 — Company’s share (50%) (b) 670 — Total expense incurred by Vast — — Net reimbursement to be received from joint operator (a-b) (670) — Reimbursement received during the year — — The reimbursement of $0.7 million as of June 30, 2024, was included in trade receivables and subsequently received in July, 2024. ii. Joint venture During the year ended June 30, 2022, Vast Solar Aurora Pty Ltd ("VSA") a wholly owned subsidiary of the Company, entered into an arrangement to co-develop the Aurora Energy Project commissioned by SiliconAurora. Vast acquired 50% of the shares in SiliconAurora on June 15, 2022 from 1414 Degrees Limited ("14D") for consideration of $0.07 million as an initial payment and $1.58 million as deferred consideration. The deferred consideration of $0.62 million was paid in July 2022 and the remainder of $0.96 million is expected to be paid January, 2025, subject to the joint venture receiving a written offer/ notice to connect from the relevant network service provider. The Company intends to undertake fundraising activities. The funds raised from those activities are intended to be used to settle the acquisition of SiliconAurora by paying off the remaining component of deferred consideration and fund Vast’s on-going operational expenditure. Refer to Note 2 – Summary of Significant Accounting Policies — (b)Going concern for further information. SiliconAurora Pty Ltd will be “the legal and beneficial owner” of all the existing assets comprising the project. From a measurement perspective, Vast applies the equity method as outlined in Note 2 – Summary of Significant Accounting Policies(q) and account for its share as follows. (In thousands of US Dollars) Initial investment in SiliconAurora Pty Ltd 69 Transaction costs 56 Deferred consideration 1,578 Total consideration 1,703 Relating to: – Call option issued to shareholder 96 – 50% interest in SiliconAurora Pty Ltd 1,607 Carrying value of interest in joint venture at June 30, 2024 1,065 The Company recognises a $0.2 million loss for the year ended June 30, 2024, representing 50% of the loss from the joint venture. Vast carries $1.1 million of interest in joint venture at June 30, 2024. Further, Vast has recognised an interest-free shareholder loan of $0.46 million for its share of project expenses incurred and on-charged to SiliconAurora. The loan has a three-year term with the entire amount repayable on maturity. Commitments and contingent liabilities in respect of joint ventures: June 30, 2024 2023 (In thousands of US Dollars) Commitment to provide funding for joint venture’s commitments, if called 456 278 As part of the transaction, 14D issued call options to AgCentral Pty Limited ("AgCentral"), allowing AgCentral to purchase ordinary shares in 14D subject to achieving specific/ general approval obtained in their annual general meeting. Vast has estimated the fair value of the call options to be $0.1 million at the transaction date and has recognised it as part of the acquisition of the investment in SiliconAurora.

Property, plant and equipment

Property, plant and equipment	12 Months Ended
Property, plant and equipment	Jun. 30, 2024
Property, plant and equipment [abstract]
Property, plant and equipment	(15) Property, plant and equipment June 30, 2024 2023 (In thousands of US Dollars) Cost: Office equipment Opening Balance at July 1 63 38 Additions 53 27 Disposals (7) — Exchange differences 3 (2) Closing Balance at June 30 112 63 Accumulated depreciation: Office equipment Opening Balance at July 1 (33) (19) Depreciation expense (23) (15) Disposals 6 — Exchange differences — 1 Closing Balance at June 30 (50) (33) Net book value as of June 30 62 30

Right-of-use assets

Right-of-use assets	12 Months Ended
Right-of-use assets	Jun. 30, 2024
Changes in right-of-use assets [abstract]
Right-of-use assets	(16) Right -of-use assets June 30, 2024 2023 (In thousands of US Dollars) Net carrying amount: Office Building 368 — Land 11 45 Vast’s right-of-use asset pertains to the lease of its office as well as use of land for operations. The office lease is due to the registered office and principal executive office move during the year to Suite 7.02, 124 Walker Street, North Sydney, NSW 2060, Australia. 2024 2023 (In thousands of US Dollars) Movements in carrying amounts: Opening balance at July 1 146 152 Additions during the year 394 — Exchange differences (8) (6) Closing Balance at June 30 532 146 Accumulated depreciation Opening Balance at July 1 (101) (71) Depreciation expense (63) (34) Exchange differences 11 4 Closing Balance at June 30 (153) (101) Net book value June 30 379 45 Amounts recognised in profit and loss: Depreciation expense on right-of-use asset (63) (34) Interest expense on lease liabilities (23) (6) Refer to the consolidated statements of cash flows for the total cash outflow for leases during the year. (17) Lease Liabilities June 30, 2024 2023 (In thousands of US Dollars) Current Lease liabilities 134 26 Non-current Lease liabilities 299 28 Total Lease Liability 433 54 Future minimum lease payments Future lease payments payable in relation to lease of the office and land: June 30, 2024 2023 (In thousands of US Dollars) Within one year 111 43 Later than one year but not later than 5 years 467 14 Total 578 57

Lease Liabilities

Lease Liabilities	12 Months Ended
Lease Liabilities	Jun. 30, 2024
Lease liabilities [abstract]
Lease Liabilities	(16) Right -of-use assets June 30, 2024 2023 (In thousands of US Dollars) Net carrying amount: Office Building 368 — Land 11 45 Vast’s right-of-use asset pertains to the lease of its office as well as use of land for operations. The office lease is due to the registered office and principal executive office move during the year to Suite 7.02, 124 Walker Street, North Sydney, NSW 2060, Australia. 2024 2023 (In thousands of US Dollars) Movements in carrying amounts: Opening balance at July 1 146 152 Additions during the year 394 — Exchange differences (8) (6) Closing Balance at June 30 532 146 Accumulated depreciation Opening Balance at July 1 (101) (71) Depreciation expense (63) (34) Exchange differences 11 4 Closing Balance at June 30 (153) (101) Net book value June 30 379 45 Amounts recognised in profit and loss: Depreciation expense on right-of-use asset (63) (34) Interest expense on lease liabilities (23) (6) Refer to the consolidated statements of cash flows for the total cash outflow for leases during the year. (17) Lease Liabilities June 30, 2024 2023 (In thousands of US Dollars) Current Lease liabilities 134 26 Non-current Lease liabilities 299 28 Total Lease Liability 433 54 Future minimum lease payments Future lease payments payable in relation to lease of the office and land: June 30, 2024 2023 (In thousands of US Dollars) Within one year 111 43 Later than one year but not later than 5 years 467 14 Total 578 57

Provisions

Provisions	12 Months Ended
Provisions	Jun. 30, 2024
Provisions [abstract]
Provisions	(18) Provisions June 30, 2024 2023 (In thousands of US Dollars) Current: Employee benefits 314 183 Non-current: Employee benefits 156 117 Total Provisions 470 300 Movements in provisions: Employee benefits Opening Balance 300 234 Additions 355 247 Utilisations (214) (171) Exchange differences 29 (10) Closing Balance 470 300 Employee benefits represents annual leave and long service leave provisions.

Issued Capital

Issued Capital	12 Months Ended
Issued Capital	Jun. 30, 2024
Issued capital [abstract]
Issued Capital	(19) Issued Capital June 30, 2024 2023 (In thousands of US Dollars) 25,129,140 fully paid ordinary shares (1) — 2,354 29,973,504 fully paid following completion of the Capital Reorganisation, net of transaction costs 297,618 — Total Issued Capital 297,618 2,354 Ordinary shareholders participate in dividends and the proceeds on winding up of the parent entity in proportion to the number of shares held. The ordinary shares have no par value. The Company does not have a limited amount of authorised capital. ______________________________________________________________ (1) Calculation of the earnings per share for the year ended June 30, 2023 on the consolidated statements of profit or loss and other comprehensive income are adjusted retrospectively to reflect 25,129,140 Ordinary Shares converting into 2,149,294 Ordinary Shares upon consummation of the Capital Reorganisation. June 30, 2024 (In number of shares) (In thousands of US Dollars) Issuance of shares to employees (1a)(b) 2,301,433 638 Conversion of debt to equity (1c)(2) 15,956,925 208,800 Shares issued to acquire NETC (3)(4)(5) 5,654,616 67,799 PIPE funding (6) 1,715,686 17,506 Shares issued as settlement of transaction expenses (7) 171,569 2,057 Transaction costs accounted for as a deduction from equity (IAS 32) — (1,536) Movement in Issued capital 25,800,229 295,264 At the effective time of the Capital Reorganisation , Vast issued: (1) As a result of a share consolidation exercise, Vast issued 21,137,033 ordinary shares immediately prior to completion of the Capital Reorganisation. In a reverse stock split the equity of the merged entity shall reflect the original carrying value of the target’s equity (i.e. Vast) plus the net proceeds received from NETC. Shares issued to Legacy Vast Shareholders (i.e., AgCentral Energy Pty Ltd ("AgCentral Energy") and certain employees and former employees of Vast): (a) 2,036,900 Ordinary Shares issued to MEP Shareholders under the MEP Deed dated on or around July 30, 2020, as amended on February 14, 2023 pursuant to the MEP De-SPAC Side Deed. These were exchanged on 1 to 1 basis using carrying value determined just prior to share consolidation exercise. Refer to Note 20 – Reserves for further details; (b) 264,533 Ordinary Shares granted to certain employees of Vast and issued to an employee share trust until such time they are vested, out of the previous MEP share pool, which had not been previously granted to any employees prior to the Capital Reorganisation. Vast consolidates the trust. These shares are treated as treasury shares with nil carrying value as at June 30, 2024 . Refer to Note 20 – Reserves for further details; (c) 18,198,566 Ordinary Shares issued to AgCentral Energy in exchange for settlement and cancellation of: (i) 25,129,140 Legacy Vast Shares for which AgCentral Energy paid an average price of approximately $0.09 per share. On exchange date, the Company recognised the new issued shares at the carrying amount of Legacy Vast Shares from the condensed statement of financial position (including the Capital Contribution Reserve associated to AgCentral Energy, forming part of Vast’s opening reserves as of July 1, 2023), and (ii) convertible notes and other indebtedness of Vast towards AgCentral Energy. On conversion to equity, the Company derecognised the financial liabilities at their carrying amount from the condensed statement of financial position and recognised them as issued capital. This includes the derivative financial liabilities associated with the notes. (2) An aggregate of 1,250,014 Ordinary Shares upon conversion of Senior Convertible Notes held by AgCentral Energy and Nabors Lux. (3) An aggregate of 804,616 Ordinary Shares upon conversion of shares of NETC Class A Common Stock to the holders thereof. Pursuant to the Business Combination Agreement, each share of NETC Class A Common Stock (other than shares of NETC properly submitted for redemption) issued and outstanding immediately prior to the Effective Time were exchanged for on a one-to-one basis for Ordinary Shares. This includes 633,250 shares of NETC Class A common stock purchased by Capital Airport Group ("CAG") to satisfy its’ financing obligations. (4) An aggregate of 3,000,000 Ordinary Shares upon conversion of Founder Shares (On March 30, 2021, NETC was funded with $25,000 for which it issued 8,625,000 shares of Class F common stock, par value $ 0.0001 per share — the “Founder Shares”) to the holders thereof, and an aggregate of 1,500,000 Ordinary Shares to former members of NETC Sponsor as acceleration of a portion of the Earnback Shares ( up to 2,400,000 Ordinary Shares that may be issued to the NETC Sponsor upon the achievement of certain share price targets) , pursuant to the Nabors Backstop Agreement. Includes 129,911 Ordinary Shares issued upon conversion of the Founder Shares transferred to CAG prior to the Capital Reorganisation in connection with CAG’s investments. Pursuant to the CAG Non-Redemption Agreement, CAG agreed not to redeem the shares of NETC’s Class A common stock, in exchange for Nabors Lux agreeing to issue to CAG 129,911 Ordinary Shares. On conversion, the difference between the fair value of the shares issued and net assets/liabilities acquired has been recorded as share based payment expense. Refer to Note 25. Capital reorganization (the “SPAC Merger”) for further information. (5) 350,000 Ordinary Shares to Nabors Lux pursuant to the Nabors Backstop Agreement issued as Incremental Funding Commitment Fee. ( the $2.5 million purchase price paid to Vast by Nabors Lux as consideration for the Senior Convertible Note issued pursuant to the October Notes Subscription Agreement). (6) An aggregate of 1,715,686 Ordinary Shares to AgCentral Energy and Nabors Lux pursuant to their respective Equity Subscription Agreements. (7) 171,569 Shares to Guggenheim Securities issued as settlement for transaction expenses, expensed under IFRS 2.

Reserves

Reserves	12 Months Ended
Reserves	Jun. 30, 2024
Disclosure of reserves within equity [abstract]
Reserves	(20) Reserves June 30, 2024 2023 (In thousands of US Dollars) Share-based payment reserve 24,294 4 Capital contribution reserve — 4,591 Foreign currency translation reserve 2,883 3,285 Closing Balance 27,176 7,880 Movement in share-based payment reserve is as follows: 2024 2023 (In thousands of US Dollars) As of July 1 4 4 Add: Fair value of earnout for NETC Sponsor issuable to Nabors Lux 22,576 — Add: Share based payment expense for the period from December 18, 2023 to June 30, 2024 1,676 — Foreign exchange differences 38 — As of June 30 24,294 4 As of June 30, 2024, the Group had the following share-based payment arrangements: Earnout shares issued to NETC Sponsor: Upon the occurrence of the following events, 2,400,000 Ordinary Shares are issuable to Nabors Energy Transition Sponsor LLC ("NETC Sponsor") pursuant to the Support Agreement: • 800,000 Ordinary Shares on the date on which the volume-weighted average closing sale price of one Ordinary Share quoted on the exchange on which Ordinary Shares are then listed is greater than or equal to $12.50 for any twenty (20) Trading Days within any thirty (30) consecutive Trading Day period within the Earnout Period ("Triggering Event I"); • 800,000 Ordinary Shares on the date on which the volume-weighted average closing sale price of one Ordinary Share quoted on the exchange on which Ordinary Shares are then listed is greater than or equal to $15.00 for any twenty (20) Trading Days within any thirty (30) consecutive Trading Day period within the Earnout Period ("Triggering Event II"); • 800,000 Ordinary Shares on the date on which the volume-weighted average closing sale price of one Ordinary Share quoted on the exchange on which Ordinary Shares are then listed is greater than or equal to $17.50 for any twenty (20) Trading Days within any thirty (30) consecutive Trading Day period within the Earnout Period ("Triggering Event III"); The "Earnout Period" is the time period between the date that is 70 days after the Closing Date and the five year anniversary of the Closing Date. Earnout shares are subject to market vesting conditions and internal milestone conditions. They have been recognised as an incremental share based payment upon consummation of the Capital Reorganisation under IFRS 2. Refer to Note 25 – Capital reorganization (the “SPAC Merger”) for further details on the share based listing expense. The fair value of the Earnouts has been estimated using a Monte Carlo simulation to calculate the pay- off based on contractual terms using the following key inputs: • underlying asset value: a range of value between AUD $1 million to AUD $4 million • closing stock price at valuation date: $11.99 • price volatility of the company’s shares, based on guideline companies adjusted for size and leverage: 25% • discounted at the term-matched risk free rate: 3.9% Earnout for Legacy Vast Shareholder: In addition, upon the occurrence of Triggering Events I, II, and III discussed above, and of "Triggering Event IV” meaning the date on which a notice to proceed is issued under a contract in respect of the procurement of a 30MW/288MWhr concentrated solar power project at Port Augusta in South Australia, 2,799,999 Ordinary Shares are issuable to AgCentral pursuant to the Business Combination Agreement. The quoted market price of Ordinary Shares that was used to determine the cost of listing is presumed to include an adjustment for these earnout shares. As a consequence, the fair value of the earnout shares issuable to Legacy Vast Shareholders is already factored into the cost of listing and a separate adjustment was not considered necessary. MEP shares (equity settled): The purpose of the Management Equity Plan (“MEP”) was to provide medium to long term incentive to eligible employees and contractors of Vast by having a plan pool limit of 100 shares. 80 shares were issued during the year ended June 30, 2021 at a fair value of AUD $70 per share, with eligible employees and contractors paying cash of AUD $10 per share in addition to providing services to the Company in exchange for those shares. As the shares did not have any vesting conditions, the excess of the grant date fair value of the shares and the amount paid by the employees was recognised as share-based payment expense in full at the time of the grant of the shares. The shares did not carry any voting rights nor rights to any dividends or other distributions. Following the occurrence of a liquidity event as defined in the MEP Deed or as otherwise defined by the Board , the Board in its discretion could allow MEP shareholders an entitlement linked to the exit price in form of cash or conversion to ordinary shares from such an event. As per the MEP Deed, management’s share is 25% of exit proceeds where the sale price is AUD $10 million or less, or 33.33% where it is above AUD $10 million . Vast had historically accounted for the share-based payment as an equity-settled scheme, as Vast had determined that it did not have a present obligation to settle the share-based payment in cash. On February 14, 2023 , Vast, AgCentral Energy and the participants to the MEP entered into a MEP De- SPAC Side Deed and Amendment to the MEP Deed to clarify a suitable mechanism for MEP participants to realise the economic benefit of their MEP Shares. The key modification terms of the MEP De-SPAC Side Deed and Amendment to the MEP Deed include the introduction of a vesting period and ‘Agreed Fixed Deductions’ to be used in allocation of profits on completion of the Capital Reorganisation . The modification of the terms and conditions of the MEP did not increase the total fair value of the share-based payment arrangement and was not beneficial to the MEP participants. As a result, there was no additional expense recognised. The MEP shares meet the definition of a share-based payment arrangement as eligible employees and contractors will receive equity instruments in exchange for services provided to the Company, with a partial cash subscription payment. Accordingly, MEP shares are recognised at their grant date fair values of AUD $70 per share, with the difference between cash proceeds received (AUD $10 per share) and the fair value of MEP shares recognised within the share-based payment reserve. In addition, immediately prior to the consummation of the Capital Reorganisation , 5 MEP shares were cancelled on December 18, 2023. Upon consummation of the Capital Reorganisation , the 75 MEP shares issued to eligible employees and contractors of Vast were converted into 2,036,900 Ordinary Shares, forming part of the Legacy Vast issued capital. The 75 MEP shares converted at a rate of 26,453 Ordinary Shares per MEP, with 5 MEP shares receiving an additional 10,581 Ordinary Shares per MEP share. The additional value allocated to these shares were recognised at fair value and expensed immediately through profit or loss within share based payment expense for USD 0.6 million (refer to Note 5 – Expenses ). Shares issued under the Employee share plan for the benefit of participants in Vast’s Equity Remuneration Schemes (equity settled): On December 18, 2023, 264,533 Ordinary Shares were granted to certain employees of Vast and issued to an employee share trust until such time they are vested, out of the previous MEP share pool, which had not been previously granted to any employees prior to the consummation of the Capital Reorganisation . Vast consolidates the trust. These shares are treated as treasury shares with nil carrying value as at June 30, 2024 . Those shares were issued by Vast at the discretion of AgCentral Energy. As such, Vast made a grant of share based payment to employees, including key management personnel. Refer to Note 26 – Related Party Transactions for further details. The employee shares have the following key terms and conditions attached to them: • For the purposes the IFRS 2 charge the fair value at grant date was calculated using $11.99 per share • Vesting Conditions: The shares will vest on expiry of the Disposal Restriction Period. • Service Conditions: The employees have to still be employed on expiry of the Disposal Restriction Period. • Disposal Restriction Period: The shares will be subject to a total restriction on disposal for a period of 12 months commencing on the issue of the shares. • Shares will be held on trust by Vast Employee Share Holdings Pty Ltd as trustee for the Vast Employee Share Trust. These shares have vesting conditions attached to them and therefore a share-based payment expense was recorded under IFRS 2 at fair value through profit or loss for $ 1.7 million (refer to Note 5 – Expenses ). Movement in foreign currency translation reserve is as follows: 2024 2023 (In thousands of US Dollars) As of July 1 3,285 2,394 Movement during the year (402) 891 As of June 30 2,883 3,285 To the extent that the amount recognised in the foreign currency translation reserve arose as a consequence of translating the company’s financial statements into the USD presentation currency, these amounts may subsequently be reclassified to profit or loss. Movement in capital contribution reserve is as follows: 2024 2023 (In thousands of US Dollars) As of July 1 4,591 3,452 Interest forgiveness on convertible notes and shareholder loan — 1,517 Derecognition upon consummation of the Capital Reorganization (4,591) — Deferred tax impact — (378) As of June 30 — 4,591 The capital contribution reserve represents the modification adjustment from loan from shareholder and convertible note issued to AgCentral Energy (Noteholder). The Noteholder agreed to changes to the terms and conditions, which included interest waivers and term extensions as outlined in Note 13 – Borrowings and other financial liabilities , in their capacity as the shareholder of the entity. The gains arising as a result of the changes to the terms and conditions were therefore recognised directly in equity as a contribution in their capacity as owner. Modification adjustments presented are never reclassified to profit or loss. The balance in the reserve was derecognised against Issued Capital upon the consummation of the Capital Reorganisation and derecognition of the convertible notes.

Accumulated losses_Retained Ear

Accumulated losses/Retained Earnings	12 Months Ended
Accumulated losses/Retained Earnings	Jun. 30, 2024
Subclassifications of assets, liabilities and equities [abstract]
Accumulated losses/Retained Earnings	(21) Accumulated losses/Retained Earnings Movements in accumulated losses were as follows: 2024 2023 2022 (In thousands of US Dollars) As of July 1 (39,649) (24,432) (18,239) Loss during the year (293,445) (15,217) (6,193) As of June 30 (333,094) (39,649) (24,432)

Financial Instruments - Fair Va

Financial Instruments - Fair Value and Financial Risk management	12 Months Ended
	Jun. 30, 2024
Fair Value Disclosure [Abstract]
Financial Instruments - Fair Value and Financial Risk management	(22) Financial Instruments - Fair Value and Financial Risk management This note explains Vast’s accounting classifications and fair values including its exposure to financial risks and how these risks could affect Vast’s future financial performance. Current year profit and loss information has been included where relevant to add further context. (a) Accounting classifications and fair values The following table shows the carrying amounts and fair values of financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value. June 30, 2024 2023 (In thousands of US Dollars) Warrants liability designated at fair value – Level 1 hierarchy (1) 3,670 — Nabors Backstop facility designated at fair value – Level 3 hierarchy (2) 6,953 — Derivative financial instrument designated at fair value associated with EDF Promissory Note – Level 3 hierarchy (3) 561 — Derivative financial instrument designated at fair value associated with Convertible Notes 3, 4 and 5 and Senior Convertible Notes – Level 3 hierarchy (4) — 192 (1) Refer to Note 12. Warrants Liability for key valuation inputs applied to these warrants. (2) The following table show the valuation technique used in measuring level 3 fair values for financial instruments measured at fair value as well as significant unobservable inputs used: Type Valuation technique Significant unobservable inputs Nabors Backstop facility designated at fair value – Level 3 hierarchy Valuation have been determined by Discounted Cashflows Probability of triggering contingent settlement feature: 0% Refer to Note 13 – Borrowings and other financial liabilities - (b) Nabors Backstop Agreement for key valuation inputs. (3) The following table show the valuation technique used in measuring level 3 fair values for financial instruments measured at fair value as well as significant unobservable inputs used: Type Valuation technique Significant unobservable inputs Derivative financial instrument designated at fair value – Level 3 hierarchy Derivative valuations have been determined by a Black-Scholes formula adjusted for dilution Risk free rate: 4.48% Volatility: 70% A 10% increase in the volatility assumption would result in a change of $0.20 million in fair value of the derivative financial instrument as June 30, 2024 and 2023. A 10% increase in the risk-free rate assumption would not result in a material change in fair value of the derivative financial instrument as of June 30, 2024 and 2023. (4) The following table shows the valuation technique used in measuring level 3 fair values for derivative financial instruments measured at fair value associated with Convertible Notes 3, 4, and 5 and Senior Convertible Notes as well as significant unobservable inputs used: Type Valuation technique Significant unobservable inputs Derivative financial instrument designated at fair value – Level 3 hierarchy Derivative valuations have been determined by a Black-Scholes formula adjusted for dilution Risk free rate: not applicable Volatility: not applicable Reconciliation of level 3 fair values The following table shows a reconciliation from the opening balances to the closing balances for Level 3 fair values. Movements in derivative financial instruments (In thousands of Opening balance as of July 1, 2023 192 Additions – Embedded derivative associated to EDF Promissory Note 5,616 Additions – Embedded derivative associated to Senior Convertible Notes 288 Fair value changes recognised as unrealised loss in profit or loss – Embedded derivative associated with EDF Promissory Note (4,925) Fair value changes recognised as realised loss in profit or loss – Embedded derivative associated with Senior Convertible Notes 2,334 Fair value changes recognised as realised loss in profit or loss – Embedded derivative associated with Convertible Notes 3,4 and 5 168,042 Conversion to Issued Capital upon consummation of the Capital Reorganisation - Embedded derivatives associated with Convertible Notes 3,4 and 5 and Senior Convertible Notes (170,986) Closing balance as of June 30, 2024 561 Opening balance as of July 1, 2023 32 Fair value changes recognised as unrealised gain in profit or loss (5) Closing balance as of June 30, 2024 27 Fair value changes recognised as realised losses reflect the mark to market valuation for the embedded derivative related to the Existing Convertible Notes 3, 4 and 5, and Senior Convertible Notes for the period from July 1, 2023 to December 18, 2023. The valuation of these instruments immediately prior to the close of the capital reorganization arrangement have utilised a share price of $11.99 as the spot price, being Vast’s closing stock price on December 18, 2023. Derivative valuations have been determined by a Black- Scholes formula adjusted for dilution. Volatility of 40% has been applied as at December 18, 2023 against all tranches. Risk free rates of 5.63% (Convertible Notes 3, 4 and 5) and of 5.15% (Senior Convertible Notes) have been applied as at December 18, 2023. As of June 30, 2024 the risk free rate of 4.48% and volatility of 70% was used for the fair value assessment. (b) Market risk (i) Foreign exchange risk Foreign exchange risk arises when future commercial transactions or recognised assets or liabilities are denominated in a currency that is not Vast’s functional currency i.e. AUD. Exposure Vast’s exposure to foreign currency risk at the end of the reporting period, expressed in EUR and USD are as follows: June 30, 2024 2023 (In thousands) Trade payables EUR 94 17 USD 62 66 Amounts recognised in profit or loss and other comprehensive income: During the year, the following foreign exchange related amounts were recognised in profit or loss: Twelve Months Ended June 30, 2024 2023 2022 (In thousands of US Dollars) Amounts recognised in profit or loss Unrealised Currency Gain/(Loss) 3 1 (1) Realised Currency (Loss)/Gains (200) 14 2 (197) 15 1 Given the limited exposure, Vast manages its foreign exchange risk exposure by monitoring exchange rates at regular intervals before making an informed decision to transact in such currencies. (c) Credit risk Credit risk is the risk of financial loss to Vast if a customer or counterparty to a financial instrument fails to meet its contractual obligations arising principally from Vast’s receivables from customers. Credit risk arises from cash and cash equivalents as well as credit exposures from customers, including outstanding receivables. The carrying amount of financial assets represents the maximum credit exposure. Trade receivables Vast’s exposure to credit risk is influenced mainly by the individual characteristics of each customer which are primarily government organisation and joint operator. Vast applies IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables. Management believes that Vast’s overall exposure to credit risk from Trade receivables to be not material. Cash and cash equivalents Vast held cash and cash equivalents of $11.1 million and $2.1 million as of June 30, 2024 and 2023, respectively. The cash and cash equivalents are held with bank and financial institution counterparties, which are rated AA- based on Standard and Poor’s ratings. Management believes that Vast’s overall exposure to credit risk from cash and cash equivalents to be not material. (d) Liquidity risk Liquidity risk is the risk that Vast will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. Vast’s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to Vast’s reputation. Vast’s exposure to Liquidity risk primarily pertains to the Promissory Note issued by HoldCo to EDF. Coupon interest is payable at the rate of 3% per annum on the principal outstanding while interest accrues daily and is capitalised and payable at maturity (i.e. December 14, 2028). During the year ended June 30, 2024, as part of the Capital Reorganisation, Vast entered into a Noteholder Support and Loan Termination Agreement whereby each of the convertible notes held by AgCentral Energy were discharged and terminated in exchange for Ordinary Shares, as repayment of all the principal outstanding and accrued interest immediately prior to the de-SPAC process. As of June 30, 2024 (In thousands of US Dollars) Carrying amount Total contractual cash flows 2 months or less 3 – 36 months Beyond 36 months Promissory Note - EDF (5,869) 10,928 — — (10,928) Backstop Agreement - Nabors (6,953) 6,953 — (6,953) — Deferred consideration (959) 994 — (994) — Trade Payables (5,157) 5,157 (5,157) — — Warrants liability (3,670) 3,670 (3,670) — Lease liabilities (433) 578 (20) (199) (359) Total non-derivatives (23,040) 28,280 (5,177) (11,816) (11,287) As of June 30, 2023 (In thousands of US Dollars) Carrying Total contractual 2 months 3 – 36 months Beyond Convertible notes (21,415) 21,708 — (21,708) — Loan from shareholder (5,531) 5,704 — (5,704) — Deferred consideration (955) 995 — (995) — Trade Payables (5,622) 5,622 (5,622) — — Lease liabilities (54) 57 (7) (50) — Total non-derivatives (33,577) 34,086 (5,629) (28,457) — Derivative financial instruments (192) 192 — (192) — In order to manage its liquidity to fund the operating cash flows and maintain these minimum liquidity reserve levels, it is likely that additional working capital funding will be required. If Vast is unable to raise additional capital, it may be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations and reducing overhead expenses.

Contingent Assets, Liabilities

Contingent Assets, Liabilities & Commitments	12 Months Ended
Contingent Assets, Liabilities & Commitments	Jun. 30, 2024
Contingent Assets and Liabilities [Abstract]
Contingent Assets, Liabilities & Commitments	(23) Contingent Asset, Liabilities & Commitments 1) In 2021, the Company received contributions from the Australian Renewable Energy Agency (ARENA) in relation to funding a 30 MW concentrated solar thermal power reference plant variation contract (variation funding agreement). In relation to the funding agreement, the arrangement includes a clause on change of control, which indicated that if the Company failed to get funding to build the facility in Australia by May 31, 2024 but obtains finance for an offshore facility before that period, it would give rise to the requirement to repay a proportion of funding received from ARENA. At reporting date and upon entering into BCA, the Company did not identify such circumstances, as significant progress has been made on this facility in Australia. Refer to Note 2 – Summary of Significant Accounting Policies — (b) Going concern.. 2) On December 7, 2023, the Company entered into a Joint Development Agreement (“JDA”) with EDF, pursuant to which : a. the Company and EDF will co-develop CSP Projects (as defined in the JDA) on an exclusive basis, subject to certain preexisting exceptions, in (i) Australia and, (ii) subject to certain conditions relating to expanding this exclusivity, other jurisdictions, b. EDF will be provided with a right to elect to invest equity in CSP Projects which become Approved Projects (as defined in the JDA) and c. the Company will have the right to be the exclusive supplier of CSP Technology to all Potential Eligible Projects, Eligible Projects and Approved Projects (each as defined in the JDA). Pursuant to the EDF JDA, the parties have agreed to collaborate on certain development activities with respect to CSP Projects. The Company and EDF will establish a steering committee, composed of two appointees from each party, to oversee and govern the activities of the EDF JDA. Costs with respect to Eligible Projects developed under the EDF JDA will be borne by the parties equally. The EDF JDA also specifies that a joint venture agreement (“JVA”) will be entered into for each jointly developed project which reaches a certain stage of development. EDF has a right to invest in Approved Projects for an amount up to (1) 75% of the total equity capital for an Approved Project, and (2) up to 75% of the total equity capital of VS1, VS3 (a proposed 150 MW CSP facility with 12-18 hours of thermal storage located in Port Augusta, South Australia) and SM1 in the aggregate. Neither party will contribute any pre-existing background intellectual property used in the joint effort; however, intellectual property rights developed or derived by either party in connection with the EDF JDA will be jointly owned by both the Company and EDF, and each party grants the other party a royalty-free, non-exclusive license to other intellectual property used in connection with the EDF JDA. The EDF JDA will automatically terminate upon the later of (1) seven years from the closing date of the EDF Note Purchase Agreement and (2) the date the parties entered into a JVA with respect to an Approved Project with an expected nameplate capacity equal to or exceeding 200 megawatts, which may include a JVA for VS1, VS3 and SM1. The EDF JDA contains customary provisions regarding certain events of default and each party’s right to terminate its obligations thereunder. In the event a party contemplates a Change of Control of such party, the other party must first consent to such Change of Control but such consent may not be unreasonably withheld or delayed if (1) the transferor is the Company, it continues to own 100% of the CSP Technology and the Background IP (as defined therein) and (2) the transferee continues to have the technical and financial capability to perform its obligations under the EDF JDA. Refer to Note 14 – Interest in other entities for details regarding the joint agreement with EDF.

Subsequent Events

Subsequent Events	12 Months Ended
Subsequent Events	Jun. 30, 2024
Disclosure of non-adjusting events after reporting period [abstract]
Subsequent Events	(24) Subsequent Events

Capital reorganization (the "SP

Capital reorganization (the "SPAC Merger")	12 Months Ended
Capital reorganization (the "SPAC Merger")	Jun. 30, 2024
Capital Reorganization [Abstract]
Capital reorganization (the "SPAC Merger")	(25) Capital reorganization (the “SPAC Merger”) The Capital Reorganisation was accounted for as a capital reorganization by Vast. The merger was achieved by Vast issuing Ordinary Shares to NETC shareholders in exchange for the net liabilities of NETC as of the closing date. The Capital Reorganisation was not within the scope of IFRS 3 because NETC did not meet the definition of a business in accordance with IFRS 3. Rather, the Capital Reorganisation was accounted for as an asset acquisition, with the difference between the fair value of the purchase consideration of NETC over the fair value of NETC’s identifiable net liabilities acquired expensed as service for stock exchange listing under IFRS 2. Vast was determined to be the accounting acquirer based on the following: ◦ Vast’s previous majority shareholder has a majority voting interest; ◦ AgCentral Energy, a Legacy Vast Shareholder, has the ability to nominate the majority of the members of the Board; ◦ The existing senior management of Vast continues to be the senior management following the Capital Reorganisation; ◦ The business of Vast comprises the ongoing operations following the Capital Reorganisation; and ◦ Vast was the larger entity, both in terms of substantive operations and number of employees. Share based listing expenses of $106.0 million represent non-cash IFRS 2 charges recorded in connection with the consummation of the Capital Reorganisation. The transaction is accounted for in accordance with IFRS 2 with an expense reflected for the difference between the fair value of the Ordinary Shares issued to NETC shareholders as compared to the fair value of NETC’s net assets or liabilities, as relevant, contributed. The fair value of the Ordinary Shares was determined based on a quoted market price of $11.99 per Ordinary share at closing as of December 19, 2023. The estimated fair value of the equity instruments issued to NETC shareholders considers the impact of Ordinary Shares issuable to Legacy Vast Shareholders (i.e. AgCentral Energy and certain employees and former employees of Vast), upon the occurrence of certain Triggering Events or earlier, upon a change of control in accordance with the earnout provisions. Refer to Note 20 – Reserves for further details. The fair value of share consideration of $94.8 million and NETC’s net liabilities of $11.2 million result in an excess of the fair value of the shares issued over the value of the net monetary assets acquired of $106.1 million. The difference is reflected as a share based listing expense of $106.0 million for the services provided by NETC in connection with the listing. The fair value calculation of $94.8 million is based on the estimated fair value of Ordinary Shares issued to NETC shareholders in connection with the SPAC Merger, including an estimated fair value of the Earnout Shares for NETC of $22.6 million. These financial statements for the year ended June 30, 2024 give effect to the Capital Reorganisation and related transactions summarized below: Ordinary Shares issued in exchange for the following (in thousands): NETC Class A Common Stock (b) 805 Backstop Commitment Fee (f) 350 NETC Class F Common Stock (b) 3,000 Accelerated Earnback Shares (f) 1,500 Ordinary Shares issued 5,655 Fair value of Ordinary shares issued in exchange for NETC shares valued at $11.99 per share 67,799 Vast Warrants issued in exchange for NETC warrants (c) 4,129 Shares issued as settlement of transaction expenses (e) 307 Fair value of earnout for NETC Sponsor (g)(h) 22,576 Fair value of share consideration 94,811 Adjusted NETC’s net liabilities upon closing (a) 11,206 Total 106,017 (a) the merger of NETC with and into Neptune Merger Sub Inc., a wholly owned subsidiary of Vast, with NETC surviving the merger as a wholly-owned subsidiary of Vast. The net liabilities of NETC upon closing were as follows: As at December 18, 2023 (in thousands) Assets: Cash 9,203 Prepaid expenses 1,325 Total assets 10,528 Liabilities: Trade and Other Payables 21,525 Income taxes payable 209 Total liabilities 21,734 Total net liabilities (11,206) (b) the completion of the Vast pre-closing reorganization, which included the Existing Convertible Note Conversion, the MEP Share Conversion, and the Vast Split Adjustment; the exchange of all outstanding Founder Shares into 3 million Ordinary Shares, and all outstanding NETC Class A Shares that were not redeemed by the Class A shareholders into an equivalent number of Ordinary Shares; (c) the exchange of all outstanding NETC Warrants into an equal number of Vast Warrants, with substantially the same terms; (d) the entry into various agreements with CAG, under which CAG committed to invest $ 7 million of PIPE Financing. CAG and Vast agreed that this commitment would be satisfied by CAG’s purchase of Class A common stock of NETC from existing NETC stockholders who previously elected to redeem their shares in connection with the Capital Reorganisation and whose redemption election would be reversed. The $ 7 million included in Cash has been reflected in Issued Capital of Vast upon consummation of the Capital Reorganisation ; (e) the issuance of 171,569 Ordinary Shares to Guggenheim Securities as consideration for its services. A resulting loss of $ 0.3 million upon consummation of the Capital Reorganisation has been recorded within share based listing expenses; (f) the issuance of 1.5 million Ordinary Shares as Accelerated Earnback Shares pursuant to the Nabors Backstop Agreement and issuance of 350,000 Ordinary Shares as Incremental Funding Commitment Fee pursuant to the October Notes Subscription Agreement. (g) During the Earnout Period, Vast may issue up to an aggregate of 2.4 million additional Ordinary Shares to NETC Sponsor in three equal tranches and up to an aggregate of 1.3 million Ordinary Shares to Legacy Vast Shareholders in three equal tranches, upon the occurrence of each Triggering Event. Refer to Note 20 – Reserves for further details. (h) Additionally, Vast may also issue 1.5 million Ordinary Shares to Legacy Vast Shareholders upon receiving a notice to proceed under a contract for the procurement of a concentrated solar power plant at Port Augusta, in South Australia. Refer to Note 20 – Reserves for further information. Also included in the Capital Reorganisation, yet not forming part of the purchase consideration for the asset acquired are the following transactions: • the entry into Equity Subscription Agreements and a Notes Subscription Agreement (including the October Notes Subscription Agreement) by Nabors Lux and AgCentral Energy to purchase up to $ 15 million each ($ 30.0 million combined) of Ordinary Shares for $10.20 per share through the issuance of up to $ 5.0 million to AgCentral Energy and $ 7.5 million to Nabors Lux of Senior Convertible Notes ($ 12.5 million combined of Senior Convertible Notes from time to time beginning on the date of signing of the BCA and ending on the Closing Date and $ 12.5 million to AgCentral Energy and $ 10.0 million to Nabors Lux ($ 22.5 million combined) of committed subscriptions under the PIPE Financing funded on the Closing Date; • the entry into the Nabors Backstop Agreement (as amended by the amendment to the Nabors Backstop Agreement dated December 7, 2023) by Nabors Lux to provide $ 10.0 million backstop to Vast to underwrite the potential investment by additional investors provided that the amount of the backstop be reduced dollar-for-dollar by (a) the balance of cash remaining in NETC's trust account after giving effect to any redemptions of NETC Class A Common Stock by NETC public stockholders and (b) amounts invested by additional third parties (other than Nabors Lux, AgCentral Energy, CAG, EDF and their respective affiliates); • the entry into the EDF Note Purchase Agreement to purchase the Promissory Note with an aggregate principal amount of EUR 10.0 million (equivalent to approximately $ 10.8 million on December 18, 2023 ); The following summarized the number of Ordinary Shares issued upon closing of the Capital Reorganisation : Shares issued upon closing of the Capital Reorganisation Ownership in shares % Legacy Vast shareholders 20,499,999 70.0% Other 804,616 2.7% NETC initial stockholders 4,500,000 15.4% Shares issued to Nabors Lux and AgCentral Energy in connection with financing transactions 3,315,700 11.3% Shares issued as settlement of transaction expenses 171,569 0.6% Total shares issued upon closing 29,291,884 100%

Related Party Transactions

Related Party Transactions	12 Months Ended
Related Party Transactions	Jun. 30, 2024
Related party transactions [abstract]
Related Party Transactions	(26) Related Party Transactions a) Majority Shareholders Place of Ownership interest Name Type 2024 2023 2022 AgCentral Energy Pty Ltd Parent Australia 71 100 % — AgCentral Pty Ltd Parent Australia — — 100 % Nabors Industries Ltd. Shareholder USA 32 % — — During the year ended June 30, 2023, under a tripartite novation deed, AgCentral Pty Ltd novated the totality of its ordinary shares to AgCentral Energy Pty Ltd. b) Subsidiaries Place of Ownership interest Name Type 2024 2023 Nabors Transition Energy Corp Subsidiary United States 100 % - % Neptune Merger Sub, Inc. Subsidiary United States - % 100 % NWQHPP Pty Ltd Subsidiary Australia 100 % 100 % Solar Methanol 1 Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar Aurora Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar 1 Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar Consulting Pty Ltd Subsidiary Australia 100 % 100 % Vast Employee Shareholdings Pty Ltd Subsidiary Australia 100 % - % Vast Intermediate HoldCo Pty Ltd Subsidiary Australia 100 % - % Vast Australia HoldCo Pty Ltd Subsidiary Australia 100 % - % HyFuel Solar Refinery Pty Ltd Subsidiary Australia 100 % - % Vast Renewables HoldCo Corp Subsidiary United States 100 % - % Vast Renewables Management Services LLC Subsidiary United States 100 % - % Vast US Projects HoldCo Corp Subsidiary United States 100 % - % El Paso ProjectCo LLC Subsidiary United States 100 % - % c) Transactions with other related parties The following transactions occurred with related parties: For the year ended June 30, 2024 2023 2022 (In thousands of US Dollars) Lease rental payment to other related parties 50 43 44 Loan drawn down from parent entity – subsequently converted to Issued Capital upon consummation of the Capital Reorganisation 12,500 4,015 1,838 Loan drawn down from investors – subsequently converted to Issued Capital upon consummation of the Capital Reorganisation 10,000 9,348 2,091 Backstop Facility drawn down from investors 6,953 — — Gain on modification of borrowings recognised in the Capital contribution reserve (4,591) 1,139 1,697 Settlement of all Convertibles Notes, Senior Convertible Notes and Loans from Shareholder upon consummation of the Capital Reorganisation (226,373) — — Gain on revaluation of derivative financial instruments 170,376 (105) (3) Movement in Investment in joint venture (206) (242) 1,712 Share based payment expense for the transfer of 264,533 Ordinary Shares issued to the employee share trust and granted to certain employees of Vast. 1,676 — — d) Key management personnel compensation For the year ended June 30, 2024 2023 2022 (In thousands of US Dollars) Short-term employee compensation/benefits 2,796 1,775 1,130 Share-based payment expense (1) (2) 1,189 — — Long-term employee compensation/benefits 29 27 10 4,014 1,802 1,140 (1) Additional value allocated to the MEP shares as discussed in note Note 20 – Reserves, were recognised at fair value and expensed immediately through profit or loss during the twelve months ended June 30, 2024, within share based payment expense for $0.6 million. (2) In addition, the Share based payment expense of $1.7 million for the transfer of 264,533 Ordinary Shares issued to the employee share trust and granted to certain employees of Vast, for the twelve months ended June 30, 2024 as shown above, includes a portion of $0.6 million for the shares granted to key management personnel. In addition to the compensation outlined above, certain directors and executive officers of Vast are beneficiaries of Ordinary Shares. These shares were issued in settlement of MEP shares that had been granted, vested and expensed in previous years. The total number of Ordinary Shares, including NETC Warrants, issued to key management personnel is 3,616 during the twelve months ended June 30, 2024 (June 30, 2023: nil). e) Outstanding balances arising from sales/purchases of goods and services The following balances are outstanding at the end of the reporting period in relation to transactions with related parties : June 30, 2024 2023 (In thousands of US Dollars) Trade and other receivables owed from related party - Nabors Lux 2 S.a.r.l. — — Trade and other payables owed to related party - Capital Airport Group — (54) Lease liabilities for lease arrangement with related party 33 — f) Loans to/(from) related parties June 30, 2024 2023 (In thousands of US Dollars) Loan to joint venture 456 225 Loan from shareholder (6,953) (5,531) Loans from shareholder – Convertible Note 3 — (8,762) Loans from shareholder – Convertible Note 4 — (4,405) Loans from shareholder – Convertible Note 5 — (1,114) Loans from shareholder – Senior Convertible Note — (2,438) g) Terms and conditions Refer to Note 13 – Borrowings and other financial liabilities - (a) & (b) respectively, for terms and conditions primarily in relation to convertible notes and loan from shareholder. In relation to the leasing arrangement with related party, they have been entered into arm’s length basis.

Cash Flow Information

Cash Flow Information	12 Months Ended
Cash Flow Information	Jun. 30, 2024
Statement of cash flows [abstract]
Cash Flow Information	(27) Cash Flow Information a) Net cash used in operating activity No cash interest and no cash taxes were paid during the year ended June 30, 2024 or June 30, 2023. The change in operating assets and liabilities, specifically Trade and other payables includes $18.7 million of payables from NETC that were extinguished upon consummation of the Capital Reorganisation. Refer to Note 25 – Capital reorganization (the “SPAC Merger”) for further details. b) Net debt reconciliation This section sets out an analysis of net debt and the movements in net debt for each of the periods presented. June 30, Net debt 2024 2023 (In thousands of US Dollars) Cash and cash equivalents 11,081 2,060 Borrowings and other financial liabilities (12,821) (26,946) Lease liabilities (433) (54) Net debt (2,172) (24,940) c) Net debt movements: Liabilities from financing activities Borrowings and other financial liabilities Leases (In thousands of US Dollars) Net debt as of July 1, 2021 (15,431) (137) Proceeds from loan from related party (1,838) — Capital contribution (excluding tax impact) 2,315 — Fixed payments — 46 Interest payments (2,109) (10) Interest expense 1,431 8 Net debt as of July 1, 2022 (15,632) (93) Proceeds from loan from related party (11,138) — Capital contribution (excluding tax impact) 1,517 — Fixed payments — 43 Interest expense (2,461) (6) Foreign exchange differences 767 3 Net debt as of June 30, 2023 (26,946) (53) Proceeds from loans (35,285) — Additions (5,000) (394) Conversion of loans from AgCentral Energy Ltd 34,447 — Conversion of loans from Nabors Lux 15,000 — Fair value of embedded derivatives 5,486 — Fixed payments — 55 Interest expense (522) (23) Foreign exchange differences — (18) Net debt as of June 30, 2024 (12,821) (433) d) Non-cash investing and financing activities Non-cash investing and financing activities disclosed in other notes are: • Right -of-use assets — See Note 16 – Right -of-use assets • Grant of MEP shares and Earnout Shares — See Note 20 – Reserves • Derivative financial instrument — See Note 13 – Borrowings and other financial liabilitiess • Capital Reorganisation - See Note 25 – Capital reorganization (the “SPAC Merger”)

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Jun. 30, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2024
Disclosure of objectives, policies and processes for managing capital [abstract]
Basis of Preparation	Basis of preparation Compliance with IFRS The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) . The Financial Statements were authorized for issue on September 9, 2024 by the directors of the Company. Functional and presentation currency The functional currency of Vast is Australian dollars (“AUD”) being the primary economic environment in which it operates. The presentation currency of Vast is United States (“US” or “$”) dollars. In accordance with IAS 21 The effects of change in foreign exchange rates , the financial statements for all years and periods presented have been translated into the presentation currency using the procedures outlined below: • The consolidated statements of profit or loss and comprehensive income and statement of cash flows for each year have been translated into US dollars using average foreign currency rates prevailing for the relevant period. • All assets and liabilities in the consolidated statements of financial position have been translated into US dollars at the exchange rate prevailing at each relevant reporting date. • The equity section of the consolidated statements of financial position has been translated into US dollars using historical rates i.e. translated using the rates of exchange in effect as of the dates of the various capital transactions. • All resulting exchange differences arising from the translation are included in other comprehensive income. • Loss per share has also been restated to US dollars to reflect the presentation currency. The year-end exchange rate used was A$/US$ 1:0.6620,1:0.6630 and 1:0.6889 as of June 30, 2024, June 30, 2023, and June 30, 2022 respectively. Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss. Foreign currency translation reserve Exchange differences arising on performing the above translation procedures are recognised in other comprehensive income and accumulated in a separate reserve within equity referred as foreign currency translation reserve. Differences arising on settlement or translation of monetary items are recognised in profit or loss. Historical cost convention The consolidated financial statements have been prepared on the basis of historical cost, as explained in the accounting policies below. Historical cost is generally based on the fair values of the consideration given in exchange for goods and services.
Revenue recognition	Revenue recognition Revenue is recognised at an amount that reflects the consideration to which the Company is expected to be entitled in exchange for transferring goods to a customer. For each contract with a customer, the Company: • identifies the contract with a customer; • identifies the performance obligations in the contract; • determines the transaction price; • allocates the transaction price to the separate performance obligations on the basis of the relative stand-alone selling price of each distinct good to be delivered; • and recognises revenue when or as each performance obligation is satisfied in a manner that depicts the transfer to the customer of the goods promised. Variable consideration within the transaction price, if any, reflects concessions provided to the customer such as discounts, rebates and refunds, any potential bonuses receivable from the customer and any other contingent events. Such estimates are determined using either the ‘expected value’ or ‘most likely amount’ method. The measurement of variable consideration is subject to a constraining principle whereby revenue will only be recognised to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognised will not occur. The measurement constraint continues until the uncertainty associated with the variable consideration is subsequently resolved. Amounts received that are subject to the constraining principle are initially recognised as deferred revenue in the form of a separate refund liability. Please refer to Note 3 – Revenue from Customers for further information on the accounting of the Company’s revenue from contract with customers. All revenue is stated net of the amount of goods and services tax (GST). Consulting fees Revenue from consulting fees in relate to the design, engineering and project management services for a solar facility owned by Commonwealth Scientific and Industrial Research Organisation (CSIRO), and is recognised based on the actual services provided to them at the end of the reporting period as a proportion of the total services to be provided. Revenue is recognised over time as the customer receives and uses the benefits from consulting services simultaneously. This is determined based on the actual labour hours spent relative to the total expected labour hours for each project or contract. Estimates of revenues, costs or extent of progress toward completion are revised if circumstances change. Any resulting increases or decreases in estimated revenue or costs are reflected in profit or loss in the period in which the circumstances that give rise to the change become known by management. In the case of fixed-price contracts, the customer pays the fixed amount based on a payment schedule. If the services rendered by Vast exceed the payment, a contract asset is recognised. If the payments exceed the services rendered, a contract liability is recognised. Margin fees In relation to the facility mentioned above, Vast is charging a margin fee in the form of 10% administration and handling fee for the procurement of equipment, components, and materials on behalf of CSIRO. The Company recognises revenue from procurement service at a point in time when goods are acquired and are presented net of relevant gross receipts and gross payments.
Government grants	Government grants Vast recognises grant income from the contributions received from the government which is measured at the fair value of the consideration received or receivable. Government grants are not recognised until there is reasonable assurance that Vast will comply with the conditions attaching to them and that the grants will be received. Government grants related to income are presented on a gross basis and are recognised in profit or loss on a systematic basis over the periods in which Vast recognises as expenses the related costs which the grants are intended to compensate. Investment allowances and similar tax incentives Vast is entitled to qualifying expenditure under the Research and Development Tax Incentive regime in the form of future tax offsets or income. Vast carries forward such allowances as tax credits or income for the period in which the related research and development (R&D) expenses are in accordance with IAS 12 or IAS 20 respectively. For the twelve months ended June 30, 2023 the Company received a cash refund in respect of its eligible R&D expenditure and accounted for the grant in accordance with IAS 20. Due to the fact that the Company no longer meets the aggregated turnover thresholds as defined by the Australian Taxation Office, the Company is entitled to non-refundable future tax offsets for qualifying R&D expenditure, and accounted for them in accordance with IAS 12 for the twelve months ended June 30, 2024. Specifically, government grants whose primary condition is that Vast should purchase, construct, or otherwise acquire non-current assets (including property, plant and equipment) are recognised as deferred income in the consolidated statements of financial position and transferred to profit or loss on a systematic and rational basis over the useful lives of the related assets Please refer to Note 4 – Grant Revenue for further information accounting for government grants.
Finance income	Finance income Finance income from a financial asset is recognised when it is probable that the economic benefits will flow to Vast and the amount of revenue can be measured reliably. Finance income is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset’s net carrying amount on initial recognition.
Segment reporting	Segment reporting The Company operates as one operating segment. The Board, who are the chief operating decision maker (CODM), reviews the financial information on a consolidated basis for the purpose of allocating resources and assessing performance.
Employee benefits	Employee benefits (i) Short term obligations Liabilities for wages and salaries, including non-monetary benefits, annual leave and accumulating sick leave that are expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are recognised in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the consolidated statements of financial position. (ii) Other long term employee benefit obligations Vast also has liabilities for long service leave and annual leave that are not expected to be settled wholly within 12 months after the end of the period in which the employees render the related service. These obligations are therefore measured as the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period. The obligation is presented as non-current liabilities under provisions for employee benefits in the consolidated statements of financial position. (iii) Share-based payment arrangement The grant-date fair value of equity-settled share-based payment arrangements granted to employees with non-vesting conditions is recognised as an expense, with a corresponding increase in equity, over the vesting period of the awards. The Management Equity Plan shares did not have any vesting conditions, the excess of the grant date fair value of the shares and the amount paid by the employees was therefore recognised as share-based payment expense in full at the time of the grant of the shares.
Taxation	Taxation Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the consolidated statements of profit or loss and other comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. Vast’s current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. These are recognised in profit or loss, except when it relates to items that are recognised in other comprehensive income or directly in equity, in which case the current tax is also recognised in other comprehensive income or directly in equity, respectively. Where current tax arises from the initial accounting for a Capital Reorganization, the tax effect is included in the accounting for the Capital Reorganization.
Taxation, deferred	Deferred Income tax Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, deferred tax liabilities are not recognised if they arise from the initial recognition of goodwill. Deferred income tax is also not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a Capital Reorganization that, at the time of the transaction, affects neither accounting nor taxable profit or loss and does not give rise to equal taxable and deductible temporary differences. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the end of the reporting period and are expected to apply when the related deferred income tax asset is realised, or the deferred income tax liability is settled. Deferred tax assets are recognised only if it is probable that future taxable amounts will be available to utilise those temporary differences and losses. Deferred tax assets and liabilities are offset where there is a legally enforceable right to offset current tax assets and liabilities and where the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Current and deferred tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less which are convertible to a known amount of cash and subject to an insignificant risk of change in value, and bank overdrafts.
Property, plant and equipment	Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis. Depreciation rates and methods shall be reviewed at least annually and, where changed, shall be accounted for as a change in accounting estimate. Where depreciation rates or methods are changed, the net written down value of the asset is depreciated from the date of the change in accordance with the new depreciation rate or method. Depreciation recognised in prior financial years shall not be changed, that is, the change in depreciation rate or method shall be accounted for on a ‘prospective ‘basis. The depreciation rates used for each class of depreciable assets are: Class of Property, plant and equipment Depreciation rate Office equipment 10 – 50% An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognised in profit or loss.
Impairment of assets	Impairment of assets At the end of each reporting period, Vast reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). When it is not possible to estimate the recoverable amount of an individual asset, Vast estimates the recoverable amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to individual cash-generating units, or otherwise they are allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified. Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. When an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
Provisions	Provisions Provisions are recognised when Vast has a present obligation (legal or constructive) as a result of a past event, it is probable that Vast will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (where the effect of the time value of money is material). When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received, and the amount of the receivable can be measured reliably.
Financial instruments	Financial instruments Financial assets and financial liabilities are recognised when Vast becomes a party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. For assets and liabilities that are recognised at fair value on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by re-assessing categorisation (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss. All regular way purchases or sales of financial assets are recognised and derecognised on a trade date basis. Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the time frame established by regulation or convention in the marketplace. All recognised financial assets are measured subsequently in their entirety at amortised cost. Classification of financial assets Debt instruments that meet the following conditions are measured subsequently at amortised cost: • the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows; and • the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Vast’s financial assets at amortised cost includes trade receivables. Amortised cost and effective interest method The amortised cost of a financial asset is the amount at which the financial asset is measured at initial recognition minus the principal repayments, adjusted for any loss allowance. The gross carrying amount of a financial asset is the amortised cost of a financial asset before adjusting for any loss allowance. Impairment of financial assets Vast always recognises lifetime expected credit losses (ECL) for trade receivables. The expected credit losses on these financial assets are estimated using a provision matrix based on Vast’s historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate. Derecognition of financial assets Vast derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party. On derecognition of a financial asset in its entirety, the difference between the asset’s carrying amount and the sum of the consideration received and receivable and the cumulative gain or loss that had been recognised in other comprehensive income and accumulated in equity is recognised in profit or loss. Financial liabilities and equities Classification as debt or equity Debt and equity instruments are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument. Equity instruments An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the entity are recognised at the proceeds received, net of direct issue costs. Derivative financial instruments Derivatives are recognised initially at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in profit or loss immediately. Embedded derivatives An embedded derivative is a component of a hybrid contract that also includes a non-derivative host — with the effect that some of the cash flows of the combined instrument vary in a way similar to a stand-alone derivative. Derivatives embedded in hybrid contracts with hosts that are not financial assets within the scope of IFRS 9 (e.g. financial liabilities) are treated as separate derivatives when they meet the definition of a derivative, their risks and characteristics are not closely related to those of the host contracts and the host contracts are not measured at fair value through profit or loss (FVTPL). Further, such derivatives are initially recognised at fair value and the residual amount is the initial carrying value of the host contract liability. An embedded derivative is presented as a non-current asset or non-current liability if the remaining maturity of the hybrid instrument to which the embedded derivative relates is more than 12 months and is not expected to be realised or settled within 12 months. Other financial liabilities Other financial liabilities, including borrowings and trade and other payables, are initially measured at fair value, net of transaction costs. Trade and other payables are recognised and are accrued at year end. Other financial liabilities such as interest-bearing loans and borrowings are subsequently measured at amortised cost using the effective interest method, with interest expense recognised on an effective yield basis. The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or (where appropriate) a shorter period, to the net carrying amount on initial recognition. Modification of financial liabilities: When the contractual terms of a financial liability are substantially modified, it is accounted for as an extinguishment of the original debt instrument and the recognition of a new financial liability. Quantitatively, a modification to the terms of a financial liability is substantial if the net present value of the cash flows under the modified terms, including any fees paid net of any fees received, is at least 10 percent different from the net present value of the remaining cash flows of the liability prior to the modification, both discounted at the original effective interest rate. The new debt instrument is recorded at fair value and any difference from the carrying amount of the extinguished liability, including any non-cash consideration transferred, is recorded in profit or loss. If a modification to the terms of a financial liability is not substantial, then the amortised cost of the liability is recalculated as the present value of the estimated future contractual cash flows, discounted at the original effective interest rate. The resulting gains or losses are recognised in profit or loss. Any costs or fees incurred adjust the carrying amount of the modified financial liability and are amortised over its term. Where the counterparty is a shareholder and changes to terms and conditions were not made to reflect changes in market conditions, the resulting gain or loss from the modification or extinguishment is recognised as a contribution from/distribution to shareholders directly in equity. Derecognition of financial liabilities Vast derecognises financial liabilities when, and only when, Vast’s obligations are discharged, cancelled or they expire. The difference between the carrying amount of the financial liability derecognised and the consideration paid and payable is recognised in the consolidated statements of profit or loss and other comprehensive income. Offsetting of financial instruments Financial assets and financial liabilities are offset, and the net amount is reported in the consolidated statements of financial position if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously.
Goods and Services Tax	Goods and Services Tax Revenues, expenses and assets are recognised net of the amount of goods and services tax (GST), except where the amount of GST incurred is not recoverable from the taxation authority, it is recognised as part of the cost of acquisition of an asset or as part of an item of expense. The net amount of GST recoverable from, or payable to, the taxation authority is included as part of receivables or payables. This is calculated on a cash-settled basis and then accrued for a year end. Cash flows are included in the cash flow statement on a gross basis. The GST component of cash flows arising from investing and financing activities which is recoverable from, or payable to, the taxation authority is classified within operating cash flows.
Leases	Leases Vast as lessee Vast assesses whether a contract is or contains a lease, at inception of the contract. Vast recognises a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets (such as tablets and personal computers, small items of office furniture and telephones). For these leases, Vast recognises the lease payments as an operating expense on a straight-line basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease, if this rate cannot be readily determined, the lessee uses its incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise: • fixed lease payments (including in substance fixed payments), less any lease incentives receivable; • variable lease payments that depend on an index or rate, initially measured using the index or rate at the commencement date; • the amount expected to be payable by the lessee under residual value guarantees; • the exercise price of purchase options, if the lessee is reasonably certain to exercise the options; and • payments of penalties for terminating the lease, if the lease term reflects the exercise of an option to terminate the lease The lease liability is presented as a separate line in the consolidated statements of financial position. The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made. Vast remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever: • the lease term has changed or there is a significant event or change in circumstances resulting in a change in the assessment of exercise of a purchase option, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate; • the lease payments change due to changes in an index or rate or a change in expected payment under a guaranteed residual value, in which cases the lease liability is remeasured by discounting the revised lease payments using an unchanged discount rate (unless the lease payments change is due to a change in a floating interest rate, in which case a revised discount rate is used) • a lease contract is modified, and the lease modification is not accounted for as a separate lease, in which case the lease liability is remeasured based on the lease term of the modified lease by discounting the revised lease payments using a revised discount rate at the effective date of the modification. Right-of-use assets are depreciated over the shorter period of lease term and useful life of the underlying asset. If a lease transfers ownership of the underlying asset or the cost of the right-of-use asset reflects that Vast expects to exercise a purchase option, the related right-of-use asset is depreciated over the useful life of the underlying asset. The depreciation starts at the commencement date of the lease. The right-of-use assets are presented as a separate line in the consolidated statements of financial position.
Application of new and revised Accounting Standards	Application of new and revised Accounting Standards (i) New standards and amendments — applicable July 1, 2023 In the current year, Vast has applied a number of amendments to Accounting Standards and Interpretations issued by the International Financial Reporting Standards (IFRS) that are effective for an annual period that begins on or after July 1, 2023. Unless otherwise stated below, their adoption has not had any material impact on the disclosures or on the amounts reported in these financial statements. Title Key requirements Effective date for reporting periods beginning after IFRS 17, 'Insurance contracts' as amended in December 2021 IFRS 17 Insurance Contracts is a comprehensive new accounting standard for insurance contracts covering recognition and measurement, presentation and disclosure. IFRS 17 replaces IFRS 4 Insurance Contracts; IFRS 17 applies to all types of insurance contracts (i.e., life, non-life, direct insurance and re-insurance), regardless of the type of entity that issues them, as well as certain guarantees and financial instruments with discretionary participation features. The overall objective of IFRS 17 is to provide a comprehensive accounting model for insurance contracts that is more useful and consistent for insurers,covering all relevant accounting aspects. IFRS 17 is based on a general model, supplemented by: • A specific adaptation for contracts with direct participation features (the variable fee approach) • A simplified approach (the premium allocation approach) mainly for short-duration contracts The new standard had no impact on Vast’s consolidated financial statements. January 1, 2023 (ii) Forthcoming requirements The following standards and interpretations apply for the first time to financial reporting periods commencing on or after December 31, 2023. The Company does not plan to adopt these standards early. Application is not expected to result in material changes to Vast’s future financial reports, however the quantitative effects of adopting these standards has not yet been determined. Title Key requirements Effective date Lack of exchangeability – Amendments to IAS 21 The amendment to IAS 21 specifies how an entity should assess whether a currency is exchangeable and how it should determine a spot exchange rate when exchangeability is lacking. A currency is considered to be exchangeable into another currency when an entity is able to obtain the other currency within a time frame that allows for a normal administrative delay and through a market or exchange mechanism in which an exchange transaction would create enforceable rights and obligations. If a currency is not exchangeable into another currency, an entity is required to estimate the spot exchange rate at the measurement date. An entity’s objective in estimating the spot exchange rate is to reflect the rate at which an orderly exchange transaction would take place at the measurement date between market participants under prevailing economic conditions. The amendments note that an entity can use an observable exchange rate without adjustment or another estimation technique. January 1, 2025 Disclosures: Supplier Finance Arrangements - Amendments to IAS 7 and IFRS 7 The amendments specify disclosure requirements to enhance the current requirements, which are intended to assist users of financial statements in understanding the effects of supplier finance arrangements on an entity’s liabilities, cash flows and exposure to liquidity risk. The amendments require an entity to provide information about the impact of supplier finance arrangements on liabilities and cash flows, including terms and conditions of those arrangements, quantitative information on liabilities related to those arrangements as at the beginning and end of the reporting period and the type and effect of non-cash changes in the carrying amounts of those arrangements. The information on those arrangements is required to be aggregated unless the individual arrangements have dissimilar or unique terms and conditions. In the context of quantitative liquidity risk disclosures required by IFRS 7, supplier finance arrangements are included as an example of other factors that might be relevant to disclose. The adoption of this amendment is expected to have no effect for Vast. January 1, 2024 Lease Liability in a Sale and Leaseback – (Amendments to IFRS 16) The amendment clarifies how a seller-lessee subsequently measures sale and leaseback transactions that satisfy the requirements in IFRS 15 to be accounted for as a sale. The adoption of this amendment is expected to have no effect for Vast.. January 1, 2024 Title Key requirements Effective date Classification of Liabilities as Current or Non-current – Amendments to IAS 1 The amendment of of IAS 1 specify the requirements for classifying liabilities as current or non-current. The amendments clarify: • What is meant by a right to defer settlement • That a right to defer must exist at the end of the reporting period • That classification is unaffected by the likelihood that an entity will exercise its deferral right • That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not impact its classification In addition, a requirement has been introduced whereby an entity must disclose when a liability arising from a loan agreement is classified as non-current and the entity’s right to defer settlement is contingent on compliance with future covenants within twelve months. The adoption of this amendment is expected to have no effect for Vast.. January 1, 2024 Non-current Liabilities with Covenants – (Amendments to IAS 1) The amendment clarifies how conditions with which an entity must comply within twelve months after the reporting period affect the classification of a liability. The adoption of this amendment is expected to have no effect for Vast. January 1, 2024 International Tax Reform—Pillar Two Model Rules – Amendments to IAS 12 The amendments to IAS 12 have been introduced in response to the OECD’s BEPS Pillar Two rules and include: • A mandatory temporary exception to the recognition and disclosure of deferred taxes arising from the jurisdictional implementation of the Pillar Two model rules; and • Disclosure requirements for affected entities to help users of the financial statements better understand an entity’s exposure to Pillar Two income taxes arising from that legislation, particularly before its effective date. Vast was not impacted by the Pillar Two rules given the consolidated revenue threshold was not met and therefore no specific disclosures have been included in these financial statements. January 1, 2023 Title Key requirements Effective date Sale or contribution of assets between an investor and its associate or joint venture – Amendments to IFRS 10 and IAS 28 The IASB has made limited scope amendments to IFRS 10 Consolidated financial statements and IAS 28 Investments in associates and joint ventures. The amendments clarify the accounting treatment for sales or contribution of assets between an investor and its associates or joint ventures. They confirm that the accounting treatment depends on whether the non-monetary assets sold or contributed to an associate or joint venture constitute a ‘business’ (as defined in IFRS 3 Business Combinations). Where the non-monetary assets constitute a business, the investor will recognise the full gain or loss on the sale or contribution of assets. If the assets do not meet the definition of a business, the gain or loss is recognised by the investor only to the extent of the other investor’s interests in the associate or joint venture. The amendments apply prospectively. n/a ______________________________________________________________ In December 2015 the IASB decided to defer the application date of this amendment until such time as the IASB has finalised its research project on the equity method.
Critical accounting judgements and key sources of estimation uncertainty and errors	Critical accounting judgments and key sources of estimation uncertainty and errors In the application of Vast’s accounting policies, which are described above, the directors of Vast are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. Key sources of estimation uncertainty Effective interest rate on convertible notes Effective interest rate is the rate that discounts estimated future cash payments through the expected life of the financial liability to the amortised cost of a financial liability. In calculating interest expense, the effective interest rate is applied by Vast to the amortised cost of the liability. Useful lives and impairment of property, plant and equipment As described at (j) above, Vast reviews the estimated useful lives of property, plant and equipment at the end of each reporting period and the carrying amounts to determine whether there is any indication an impairment loss is required. Deferred consideration The deferred consideration is dependent on a particular joint venture achieving agreed project milestones. In the case of the joint venture of SiliconAurora Pty Limited (“SiliconAurora”) various project milestones are expected to be met and as such Vast expects that payment will be required before the end of June 30, 2025. The fair value of the deferred consideration was calculated using an annual discount rate of 6.19%. Refer to Note 14 – Interest in other entities for further details. Employee entitlements Vast’s employee entitlements are calculated based on estimates in future increases in wages and salaries, future on cost rates, and experience of employee departures and period of service. Vast reviews these estimates in each reporting period. Recovery of deferred tax assets Deferred tax assets are recognised for deductible temporary differences only if Vast considers it is probable that future taxable amounts will be available to utilise those temporary differences and losses. Incremental borrowing rate Where the interest rate implicit in a lease cannot be readily determined, an incremental borrowing rate is estimated to discount future lease payments to measure the present value of the lease liability at the lease commencement date. Such a rate is based on what Vast’s estimates it would have to pay a third party to borrow the funds necessary to obtain an asset of a similar value to the right-of-use asset, with similar terms, security and economic environment. Lease term The lease term is a significant component in the measurement of both the right-of-use asset and lease liability. Judgement is exercised in determining whether there is reasonable certainty that an option to extend the lease or purchase the underlying asset will be exercised, or an option to terminate the lease will not be exercised, when ascertaining the periods to be included in the lease term. In determining the lease term, all facts and circumstances that create an economical incentive to exercise an extension option, or not to exercise a termination option, are considered at the lease commencement date. Factors considered may include the importance of the asset to Vast’s operations; comparison of terms and conditions to prevailing market rates; incurrence of significant penalties; existence of significant leasehold improvements; and the costs and disruption to replace the asset. Vast reassesses whether it is reasonably certain to exercise an extension option, or not exercise a termination option, if there is a significant event or significant change in circumstances.
Principles of consolidation	Principles of consolidation The consolidated financial statements incorporate the financial statements of Vast and entities controlled by the Company (i.e. its subsidiaries) up to the reporting date. Control is achieved when the Company: • Has the power over the investee • Is exposed, or has rights, to variable returns from its involvements with the investee • Has the ability to use its power to affects its returns The Company reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above. When Vast has less than a majority of the voting rights of an investee, it considers that it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. Vast considers all relevant facts and circumstances in assessing whether or not Vast’s voting rights in an investee are sufficient to give it power, including: • The size of Vast’s holding of voting rights relative to the size and dispersion of holdings of the other vote holders • Potential voting rights held by Vast, other vote holders or other parties • Rights arising from other contractual arrangements • Any additional facts and circumstances that indicate that Vast has, or does not have, the current ability to direct the relevant activities at the time that decisions need to be made, including voting patterns at previous shareholders’ meetings.
Subsidiaries	Subsidiaries Subsidiaries are all entities (including structured entities) over which Vast has control as outlined above. Subsidiaries are fully consolidated from the date on which control is transferred to Vast. They are deconsolidated from the date that control ceases. Inter-company transactions, balances and unrealised gains on transactions between companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by Vast.
Joint arrangements	Joint arrangements Under IFRS 11 Joint Arrangements, investments in joint arrangements are classified as either joint operations or joint ventures. The classification depends on the contractual rights and obligations of each investor, rather than the legal structure of the joint arrangement.
Contributed equity	Contributed equity Ordinary shares with voting rights are classified as issued capital within equity. Incremental costs directly attributable to the issue of new shares are shown in equity as a deduction, net of tax, from the proceeds. Dividends Provision is made for the amount of any dividend declared, being appropriately authorised and no longer at the discretion of the entity, on or before the end of the reporting period but not distributed at the end of the reporting period.
Earnings/Loss per share	Earnings/Loss per share (i) Basic earnings/loss per share Basic earnings per share is calculated by dividing • the profit/loss attributable to owners of Vast, excluding any costs of servicing equity other than ordinary shares; • by the weighted average number of ordinary shares outstanding during the financial year (ii) Diluted earnings/loss per share Diluted earnings per share adjusts the amounts used in the determination of basic earnings per share to take into account the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares, such as convertible notes.

General information (Tables)

General information (Tables)	12 Months Ended
General information (Tables)	Jun. 30, 2024
General Information [Abstract]
Directors and executive officers	The following table provides information relating to our directors and executive officers as of the date of approving these financial statements. Name Age Position Craig Wood 47 Chief Executive Officer and Director Marshall (Mark) D. Smith 64 Chief Financial Officer Kurt Drewes 50 Chief Technology Officer Alec Waugh 58 General Counsel Sue Opie 57 Chief People Officer Peter Botten 68 Chair Colleen Calhoun 57 Director Thomas Quinn 62 Director William Restrepo 64 Director Colin Richardson 63 Director John Yearwood 64 Director

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
Summary of Significant Accounting Policies (Tables)	Jun. 30, 2024
Disclosure of objectives, policies and processes for managing capital [abstract]
Depreciation rates used for property, plant and equipment	The depreciation rates used for each class of depreciable assets are: Class of Property, plant and equipment Depreciation rate Office equipment 10 – 50% June 30, 2024 2023 (In thousands of US Dollars) Cost: Office equipment Opening Balance at July 1 63 38 Additions 53 27 Disposals (7) — Exchange differences 3 (2) Closing Balance at June 30 112 63 Accumulated depreciation: Office equipment Opening Balance at July 1 (33) (19) Depreciation expense (23) (15) Disposals 6 — Exchange differences — 1 Closing Balance at June 30 (50) (33) Net book value as of June 30 62 30
New standards and amendments	New standards and amendments — applicable July 1, 2023 In the current year, Vast has applied a number of amendments to Accounting Standards and Interpretations issued by the International Financial Reporting Standards (IFRS) that are effective for an annual period that begins on or after July 1, 2023. Unless otherwise stated below, their adoption has not had any material impact on the disclosures or on the amounts reported in these financial statements. Title Key requirements Effective date for reporting periods beginning after IFRS 17, 'Insurance contracts' as amended in December 2021 IFRS 17 Insurance Contracts is a comprehensive new accounting standard for insurance contracts covering recognition and measurement, presentation and disclosure. IFRS 17 replaces IFRS 4 Insurance Contracts; IFRS 17 applies to all types of insurance contracts (i.e., life, non-life, direct insurance and re-insurance), regardless of the type of entity that issues them, as well as certain guarantees and financial instruments with discretionary participation features. The overall objective of IFRS 17 is to provide a comprehensive accounting model for insurance contracts that is more useful and consistent for insurers,covering all relevant accounting aspects. IFRS 17 is based on a general model, supplemented by: • A specific adaptation for contracts with direct participation features (the variable fee approach) • A simplified approach (the premium allocation approach) mainly for short-duration contracts The new standard had no impact on Vast’s consolidated financial statements. January 1, 2023
Forthcoming requirements	Forthcoming requirements The following standards and interpretations apply for the first time to financial reporting periods commencing on or after December 31, 2023. The Company does not plan to adopt these standards early. Application is not expected to result in material changes to Vast’s future financial reports, however the quantitative effects of adopting these standards has not yet been determined. Title Key requirements Effective date Lack of exchangeability – Amendments to IAS 21 The amendment to IAS 21 specifies how an entity should assess whether a currency is exchangeable and how it should determine a spot exchange rate when exchangeability is lacking. A currency is considered to be exchangeable into another currency when an entity is able to obtain the other currency within a time frame that allows for a normal administrative delay and through a market or exchange mechanism in which an exchange transaction would create enforceable rights and obligations. If a currency is not exchangeable into another currency, an entity is required to estimate the spot exchange rate at the measurement date. An entity’s objective in estimating the spot exchange rate is to reflect the rate at which an orderly exchange transaction would take place at the measurement date between market participants under prevailing economic conditions. The amendments note that an entity can use an observable exchange rate without adjustment or another estimation technique. January 1, 2025 Disclosures: Supplier Finance Arrangements - Amendments to IAS 7 and IFRS 7 The amendments specify disclosure requirements to enhance the current requirements, which are intended to assist users of financial statements in understanding the effects of supplier finance arrangements on an entity’s liabilities, cash flows and exposure to liquidity risk. The amendments require an entity to provide information about the impact of supplier finance arrangements on liabilities and cash flows, including terms and conditions of those arrangements, quantitative information on liabilities related to those arrangements as at the beginning and end of the reporting period and the type and effect of non-cash changes in the carrying amounts of those arrangements. The information on those arrangements is required to be aggregated unless the individual arrangements have dissimilar or unique terms and conditions. In the context of quantitative liquidity risk disclosures required by IFRS 7, supplier finance arrangements are included as an example of other factors that might be relevant to disclose. The adoption of this amendment is expected to have no effect for Vast. January 1, 2024 Lease Liability in a Sale and Leaseback – (Amendments to IFRS 16) The amendment clarifies how a seller-lessee subsequently measures sale and leaseback transactions that satisfy the requirements in IFRS 15 to be accounted for as a sale. The adoption of this amendment is expected to have no effect for Vast.. January 1, 2024 Title Key requirements Effective date Classification of Liabilities as Current or Non-current – Amendments to IAS 1 The amendment of of IAS 1 specify the requirements for classifying liabilities as current or non-current. The amendments clarify: • What is meant by a right to defer settlement • That a right to defer must exist at the end of the reporting period • That classification is unaffected by the likelihood that an entity will exercise its deferral right • That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not impact its classification In addition, a requirement has been introduced whereby an entity must disclose when a liability arising from a loan agreement is classified as non-current and the entity’s right to defer settlement is contingent on compliance with future covenants within twelve months. The adoption of this amendment is expected to have no effect for Vast.. January 1, 2024 Non-current Liabilities with Covenants – (Amendments to IAS 1) The amendment clarifies how conditions with which an entity must comply within twelve months after the reporting period affect the classification of a liability. The adoption of this amendment is expected to have no effect for Vast. January 1, 2024 International Tax Reform—Pillar Two Model Rules – Amendments to IAS 12 The amendments to IAS 12 have been introduced in response to the OECD’s BEPS Pillar Two rules and include: • A mandatory temporary exception to the recognition and disclosure of deferred taxes arising from the jurisdictional implementation of the Pillar Two model rules; and • Disclosure requirements for affected entities to help users of the financial statements better understand an entity’s exposure to Pillar Two income taxes arising from that legislation, particularly before its effective date. Vast was not impacted by the Pillar Two rules given the consolidated revenue threshold was not met and therefore no specific disclosures have been included in these financial statements. January 1, 2023 Title Key requirements Effective date Sale or contribution of assets between an investor and its associate or joint venture – Amendments to IFRS 10 and IAS 28 The IASB has made limited scope amendments to IFRS 10 Consolidated financial statements and IAS 28 Investments in associates and joint ventures. The amendments clarify the accounting treatment for sales or contribution of assets between an investor and its associates or joint ventures. They confirm that the accounting treatment depends on whether the non-monetary assets sold or contributed to an associate or joint venture constitute a ‘business’ (as defined in IFRS 3 Business Combinations). Where the non-monetary assets constitute a business, the investor will recognise the full gain or loss on the sale or contribution of assets. If the assets do not meet the definition of a business, the gain or loss is recognised by the investor only to the extent of the other investor’s interests in the associate or joint venture. The amendments apply prospectively. n/a ______________________________________________________________ In December 2015 the IASB decided to defer the application date of this amendment until such time as the IASB has finalised its research project on the equity method.

Revenue from Customers (Tables)

Revenue from Customers (Tables)	12 Months Ended
Revenue from Customers (Tables)	Jun. 30, 2024
Disclosure of disaggregation of revenue from contracts with customers [abstract]
Disaggregation of revenue from contracts with customers	Year ended June 30, 2024 2023 2022 (In thousands of US Dollars) Consulting fees $ 336 $ 170 $ 140 Margin fees 6 98 23 $ 342 $ 268 $ 163 Year Ended June 30, 2024 2023 2022 (In thousands of US Dollars) CSIRO $ 246 $ 253 $ 163 Other 96 15 — $ 342 $ 268 $ 163 Timing of revenue recognition: At a point in time $ 342 $ 199 $ 23 Over time — 69 140 $ 342 $ 268 $ 163

Grant Revenue (Tables)

Grant Revenue (Tables)	12 Months Ended
Grant Revenue (Tables)	Jun. 30, 2024
Revenue [abstract]
Grant revenue	Year Ended June 30, 2024 2023 2022 (In thousands of US Dollars) ARENA grant $ — $ — $ 1,001 R&D tax credit recoveries — 651 753 $ — $ 651 $ 1,754 Year Ended June 30, 2024 2023 2022 (In thousands of US Dollars) Refundable R&D tax offset for the year $ — $ 651 $ 753 R&D Tax credit recoveries recognised as grant income $ — $ 651 $ 753

Expenses (Tables)

Expenses (Tables)	12 Months Ended
Expenses (Tables)	Jun. 30, 2024
Analysis of income and expense [abstract]
Expenses by nature	Net loss includes the following expenses: Year Ended June 30, 2024 2023 2022 (In thousands of US Dollars) Raw materials and consumables used: Raw materials and consumables cost $ 783 $ 572 $ 205 Power and fuel expense 32 28 36 815 600 241 Consultancy expenses: Consulting – Corporate 880 926 760 Consulting – Projects 3,062 1,208 1,174 3,943 2,134 1,934 Administrative and other expenses: Legal and accounting expenses 5,224 7,151 1,163 Subscriptions, software and licences 248 239 137 Travelling expenses 366 253 84 Marketing expenses 933 111 58 Share base payment expenses 1 2,314 — — Other expenses 1,444 326 176 10,529 8,080 1,618 Employee benefits expenses: Salaries and wages 4,460 2,554 2,412 Superannuation 391 242 215 Payroll tax 254 111 92 Employee entitlements – annual leave (AL) 130 42 15 Employee entitlements – long service leave (LSL) 39 34 22 5,274 2,984 2,756 Gain/loss on derivative financial instruments: Realised loss on Convertible Notes 3, 4 and 4, and Senior Convertible Notes issued to AgCentral Energy 2 170,376 — — Unrealised gain on Convertible Notes 3, 4 and 4, and Senior Convertible Notes issued to AgCentral Energy — (105) 3 Unrealised gain on Promissory Note issued to EDF 2 (4,912) — — Unrealised gain on NETC Warrants 2 (400) — — Exchange differences (129) — — 164,935 (105) 3 Share-based listing expense 106,055 — — $ 106,055 $ — $ — During the years ended June 30, 2024, 2023, and 2022, Vast incurred research and development related expenses of $2.20 million, $1.50 million and $1.58 million respectively, which are included within the expenditure categories above as they do not meet the capitalisation requirements of IAS 38 Intangible Assets . (1) Refer to note Note 20 – Reserves for more details relating to share based payment expenses. (2) Refer to note Note 22 – Financial Instruments - Fair Value and Financial Risk management for further details.

Income Tax Benefit (Tables)

Income Tax Benefit (Tables)	12 Months Ended
Income Tax Benefit (Tables)	Jun. 30, 2024
Income taxes paid (refund) [abstract]
Income tax (expense) / benefit	Year Ended June 30, 2024 2023 2022 (In thousands of US Dollars) Current tax expense $ — $ — $ — Deferred tax expense Decrease/(increase) in deferred tax assets (1,256) 176 (91) (Decrease)/increase in deferred tax liabilities 1,256 (554) (527) — (378) (618) Income tax (expense) / benefit $ — $ 378 $ 618
Reconciliation of income tax benefit	Year Ended June 30, 2024 2023 2022 (In thousands of US Dollars) Loss before income tax: $ (293,445) $ (15,595) $ (6,811) Income tax benefit calculated at 30% (25% - 2022 & 2023) (88,030) (3,899) (1,703) Add: Commercial debt forgiveness gain 4,615 — — Less: Use of previously unrecognised tax now recouped to reduce current tax expense (3,877) — — Less: Use of Blackhole expenditure reserve to reduce current tax expense (738) — — Add: Non-deductible expenses 82,134 1,401 60 Add: Tax losses not recognised 5,240 1,907 781 Add: Accounting expenditure subject to R&D 655 374 432 Less: R&D tax recovery — (163) (188) Income tax benefit $ — $ (378) $ (618)
Current and deferred tax liabilities/assets	Year Ended June 30, 2024 2023 (In thousands of US Dollars) Current tax assets R&D tax incentive receivable $ — $ 638 — 638 Deferred tax assets 1,675 419 Deferred tax liabilities (1,675) (419) Net deferred tax (liability)/asset $ — $ —
Deferred tax balance movement	As of July 1, (Charged)/ credited to profit or loss* Movement in equity Exchange differences (charged)/credited to comprehensive loss As of June 30, (In thousands of US Dollars) Derivative financial instruments $ — $ 169 $ — $ — $ 169 Contract liabilities 1 (1) — — — Lease liabilities 13 117 — — 130 Share of loss of equity-accounted investee 15 (15) — — — Unused tax losses carryforwards 390 (390) — — — Provisions and accruals — 400 — 2 $ 402 Patent expenditure — 88 — 1 89 Blackhole expenditure — 884 — — 884 Deferred tax assets $ 419 $ 1,253 $ — $ 3 $ 1,675 * This includes impact of the change in tax rate during the year. As of July 1, (Charged)/ credited to profit or loss* Movement in equity Exchange differences (charged)/credited to comprehensive loss As of June 30, (In thousands of US Dollars) Borrowings and other financial liabilities $ (390) $ (1,137) $ — $ (16) $ (1,543) Property, plant and equipment (8) 3 — 1 (5) Unrealised foreign exchange gain — (13) — — $ (13) Right of use asset (10) (103) — (1) (114) Prepaid expenses (11) 11 — — — $ (419) $ (1,239) $ — $ (16) $ (1,675) * This includes impact of the change in tax rate during the year. As of July 1, (Charged)/ credited to profit or loss Movement in equity Exchange differences (charged)/credited to comprehensive loss As of June 30, (In thousands of US Dollars) Derivative financial instruments $ 8 $ (8) $ — $ — $ — Deferred income 26 (24) — (1) 1 Lease liabilities 23 (9) — (1) 13 Share of loss of equity-accounted investee 2 13 — — 15 Unused tax losses carryforwards 466 (58) — (18) 390 Provisions and accruals 93 (90) — (3) — Deferred tax assets $ 618 $ (176) $ — $ (23) $ 419 As of July 1, (Charged)/ credited to profit or loss Movement in equity Exchange differences (charged)/credited to comprehensive loss As of June 30, (In thousands of US Dollars) Borrowings – convertible notes $ (585) $ 551 $ (378) $ 22 $ (390) Property, plant and equipment (5) (3) — — (8) Right of use asset (20) 10 — — (10) Prepaid expenses (8) (4) — 1 (11) Deferred tax liabilities $ (618) $ 554 $ (378) $ 23 $ (419)

Loss per share (Tables)

Loss per share (Tables)	12 Months Ended
Loss per share (Tables)	Jun. 30, 2024
Earnings per share [abstract]
Loss per share	Year Ended June 30, 2024 2023 2022 (In thousands of US Dollars, except per share amounts) Basic loss per share Basic loss per share (17.50) (7.08) (2.88) Diluted loss per share Diluted loss per share (17.50) (7.08) (2.88) Reconciliations of loss used in calculating loss per share Basic loss per share Net loss (293,445) (15,217) (6,193) Diluted loss per share Loss used in calculating diluted loss per share (293,445) (15,217) (6,193) Weighted average number of shares used as the denominator (in thousands) Weighted average number of ordinary shares used as the denominator in calculating basic loss per share 16,764 2,149 2,149 Weighted average number of ordinary shares and potential ordinary shares used as the denominator in calculating diluted loss per share 16,764 2,149 2,149

Prepaid Expenses (Tables)

Prepaid Expenses (Tables)	12 Months Ended
Prepaid Expenses (Tables)	Jun. 30, 2024
Subclassifications of assets, liabilities and equities [abstract]
Prepaid expenses	Year ended June 30, 2024 2023 (In thousands of US Dollars) Prepaid insurance 1,841 29 Other prepaid expenses 46 15 1,887 44

Trade and other receivables (Ta

Trade and other receivables (Tables)	12 Months Ended
Trade and other receivables (Tables)	Jun. 30, 2024
Subclassifications of assets, liabilities and equities [abstract]
Trade and other receivables	Year ended June 30, 2024 2023 (In thousands of US Dollars) Trade receivables $ 831 $ 4 Goods and Service Tax receivable 8 204 Other receivables — 106 $ 839 $ 314

Contract Liabilities (Tables)

Contract Liabilities (Tables)	12 Months Ended
Contract Liabilities (Tables)	Jun. 30, 2024
Contract liabilities [abstract]
Contract liabilities	June 30, 2024 2023 (In thousands of US Dollars) Unearned revenue — 2

Trade and Other Payables (Table

Trade and Other Payables (Tables)	12 Months Ended
Trade and Other Payables (Tables)	Jun. 30, 2024
Subclassifications of assets, liabilities and equities [abstract]
Trade and other payables	June 30, 2024 2023 (In thousands of US Dollars) Trade payables 1,184 1,264 Accrued expenses 3,749 4,280 Other payables 225 78 5,157 5,622

Warrants Liability (Tables)

Warrants Liability (Tables)	12 Months Ended
Warrants Liability (Tables)	Jun. 30, 2024
Subclassifications of assets, liabilities and equities [abstract]
Warrants liability	June 30, 2024 2023 (In thousands of US Dollars) Warrants liability 3,670 — 3,670 —

Borrowings and other financia_2

Borrowings and other financial liabilities (Tables)	12 Months Ended
Borrowings and other financial liabilities (Tables)	Jun. 30, 2024
Borrowings [abstract]
Current and non-current borrowings	June 30, 2024 June 30, 2023 Current Non-current Current Non-current (In thousands of US Dollars) Convertible Notes - AgCentral Energy — — 14,281 — Senior Convertible Notes - AgCentral Energy and Nabors Lux — — — 7,134 Shareholders Loan - AgCentral Energy — — 5,531 — Promissory Note - EDF — 5,869 — — Backstop Agreement - Nabors — 6,953 — — — 12,821 19,812 7,134 Below is the detailed breakdown of the face value for each convertible note issuance (excluding the issuance of incremental notes by way of capitalised coupon payments) and the timing of their respective tranche payments, up to October 24, 2023, last tranche payment prior to the consummation of the Capital Reorganization: Note Face Value per note (AUD) Tranche Issuance Date No. of notes issued Total Face value (In thousands of AU Dollars) Total Face value (In thousands of US Dollars) Convertible Note 3 349.34 1 June 30, 2016 26,802 9,363 6,548 2 September 15, 2016 715 250 172 3 November 23, 2016 715 250 170 9,863 6,890 Convertible Note 4 17.68 1 January 18, 2018 62,216 1,100 876 2 January 31, 2018 5,656 100 81 3 February 7, 2018 11,312 200 158 4 February 26, 2018 8,484 150 118 5 March 23, 2018 25,452 450 347 6 May 23, 2018 11,313 200 151 7 May 28, 2018 11,313 200 152 8 June 12, 2018 47,511 840 640 9 September 10, 2019 105,602 1,867 1,280 10 September 25, 2019 70,701 1,250 848 6,357 4,651 Convertible Note 5 0.01 1 August 11, 2020 87,500,000 875 628 2 April 27, 2021 87,500,000 875 682 1,750 1,310 Senior Convertible Note USD1.00 1 February 15, 2023 2,500,000 3,604 2,500 2 April 13, 2023 2,500,000 3,731 2,500 3 June 27, 2023 2,500,000 3,725 2,500 4 August 15, 2023 2,500,000 3,839 2,500 5 October 24, 2023 2,500,000 3,931 2,500 18,830 12,500 36,800 25,351
Embedded derivative	The embedded derivative as part of such contracts have been tabulated below: Component Particulars June 30, 2024 June 30, 2023 (In thousands of US Dollars) Embedded derivative Promissory Note – EDF 561 — 561 — The embedded derivative as part of such hybrid contracts i.e. convertible notes have been tabulated below: June 30, Component Particulars 2024 2023 (In thousands of US Dollars) Embedded derivative Convertible Note 3 — — Convertible Note 4 — — Convertible Note 5 — 18 Senior Convertible Note — 174 — 192 Interest expense by applying respective effective interest rate applicable to the tranches Convertible Note 3 431 950 Convertible Note 4 506 995 Convertible Note 5 58 127 Senior Convertible Note 309 94 1,304 2,166
Interest expense associated with effective interest rate	Twelve Months Ended June 30, 2024 2023 (In thousands of US Dollars) Interest expense by applying effective interest rate Promissory Note – EDF 522 — 522 — The embedded derivative as part of such hybrid contracts i.e. convertible notes have been tabulated below: June 30, Component Particulars 2024 2023 (In thousands of US Dollars) Embedded derivative Convertible Note 3 — — Convertible Note 4 — — Convertible Note 5 — 18 Senior Convertible Note — 174 — 192 Interest expense by applying respective effective interest rate applicable to the tranches Convertible Note 3 431 950 Convertible Note 4 506 995 Convertible Note 5 58 127 Senior Convertible Note 309 94 1,304 2,166 Twelve Months Ended June 30, 2024 2023 2022 (In thousands of US Dollars) Interest expense by applying effective interest rate Shareholder Loan – AgCentral Energy 159 295 17
Convertible notes	June 30, 2024 June 30, 2023 Current Non-current Current Non-current (In thousands of US Dollars) Convertible Notes - AgCentral Energy — — 14,281 — Senior Convertible Notes - AgCentral Energy and Nabors Lux — — — 7,134 Shareholders Loan - AgCentral Energy — — 5,531 — Promissory Note - EDF — 5,869 — — Backstop Agreement - Nabors — 6,953 — — — 12,821 19,812 7,134 Below is the detailed breakdown of the face value for each convertible note issuance (excluding the issuance of incremental notes by way of capitalised coupon payments) and the timing of their respective tranche payments, up to October 24, 2023, last tranche payment prior to the consummation of the Capital Reorganization: Note Face Value per note (AUD) Tranche Issuance Date No. of notes issued Total Face value (In thousands of AU Dollars) Total Face value (In thousands of US Dollars) Convertible Note 3 349.34 1 June 30, 2016 26,802 9,363 6,548 2 September 15, 2016 715 250 172 3 November 23, 2016 715 250 170 9,863 6,890 Convertible Note 4 17.68 1 January 18, 2018 62,216 1,100 876 2 January 31, 2018 5,656 100 81 3 February 7, 2018 11,312 200 158 4 February 26, 2018 8,484 150 118 5 March 23, 2018 25,452 450 347 6 May 23, 2018 11,313 200 151 7 May 28, 2018 11,313 200 152 8 June 12, 2018 47,511 840 640 9 September 10, 2019 105,602 1,867 1,280 10 September 25, 2019 70,701 1,250 848 6,357 4,651 Convertible Note 5 0.01 1 August 11, 2020 87,500,000 875 628 2 April 27, 2021 87,500,000 875 682 1,750 1,310 Senior Convertible Note USD1.00 1 February 15, 2023 2,500,000 3,604 2,500 2 April 13, 2023 2,500,000 3,731 2,500 3 June 27, 2023 2,500,000 3,725 2,500 4 August 15, 2023 2,500,000 3,839 2,500 5 October 24, 2023 2,500,000 3,931 2,500 18,830 12,500 36,800 25,351

Interest in other entities (Tab

Interest in other entities (Tables)	12 Months Ended
Interest in other entities (Tables)	Jun. 30, 2024
Interest in Entities [Abstract]
Subsidiaries	Place of Ownership interest Name Type 2024 2023 Nabors Transition Energy Corp Subsidiary United States 100 % 0 % Neptune Merger Sub, Inc. Subsidiary United States 0 % 100 % NWQHPP Pty Ltd Subsidiary Australia 100 % 100 % Solar Methanol 1 Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar Aurora Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar 1 Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar Consulting Pty Ltd Subsidiary Australia 100 % 100 % Vast Employee Shareholdings Pty Ltd Subsidiary Australia 100 % 0 % Vast Intermediate HoldCo Pty Ltd Subsidiary Australia 100 % 0 % Vast Australia HoldCo Pty Ltd Subsidiary Australia 100 % 0 % HyFuel Solar Refinery Pty Ltd Subsidiary Australia 100 % 0 % Vast Renewables HoldCo Corp Subsidiary United States 100 % 0 % Vast Renewables Management Services LLC Subsidiary United States 100 % 0 % Vast US Projects HoldCo Corp Subsidiary United States 100 % 0 % El Paso ProjectCo LLC Subsidiary United States 100 % 0 % Place of Ownership interest Name Type 2024 2023 Nabors Transition Energy Corp Subsidiary United States 100 % - % Neptune Merger Sub, Inc. Subsidiary United States - % 100 % NWQHPP Pty Ltd Subsidiary Australia 100 % 100 % Solar Methanol 1 Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar Aurora Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar 1 Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar Consulting Pty Ltd Subsidiary Australia 100 % 100 % Vast Employee Shareholdings Pty Ltd Subsidiary Australia 100 % - % Vast Intermediate HoldCo Pty Ltd Subsidiary Australia 100 % - % Vast Australia HoldCo Pty Ltd Subsidiary Australia 100 % - % HyFuel Solar Refinery Pty Ltd Subsidiary Australia 100 % - % Vast Renewables HoldCo Corp Subsidiary United States 100 % - % Vast Renewables Management Services LLC Subsidiary United States 100 % - % Vast US Projects HoldCo Corp Subsidiary United States 100 % - % El Paso ProjectCo LLC Subsidiary United States 100 % - %
Joint arrangements	During the year, Vast recognised its 50% share of the total expenses incurred and invoiced reimbursement receivable from joint operator for the excess portion as tabulated below: June 30, Particulars 2024 2023 (In thousands of US Dollars) Total expense incurred by both participants (a) 1,340 — Company’s share (50%) (b) 670 — Total expense incurred by Vast — — Net reimbursement to be received from joint operator (a-b) (670) — Reimbursement received during the year — — (In thousands of US Dollars) Initial investment in SiliconAurora Pty Ltd 69 Transaction costs 56 Deferred consideration 1,578 Total consideration 1,703 Relating to: – Call option issued to shareholder 96 – 50% interest in SiliconAurora Pty Ltd 1,607 Carrying value of interest in joint venture at June 30, 2024 1,065 Commitments and contingent liabilities in respect of joint ventures: June 30, 2024 2023 (In thousands of US Dollars) Commitment to provide funding for joint venture’s commitments, if called 456 278

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
Property, plant and equipment (Tables)	Jun. 30, 2024
Property, plant and equipment [abstract]
Property, plant and equipment	The depreciation rates used for each class of depreciable assets are: Class of Property, plant and equipment Depreciation rate Office equipment 10 – 50% June 30, 2024 2023 (In thousands of US Dollars) Cost: Office equipment Opening Balance at July 1 63 38 Additions 53 27 Disposals (7) — Exchange differences 3 (2) Closing Balance at June 30 112 63 Accumulated depreciation: Office equipment Opening Balance at July 1 (33) (19) Depreciation expense (23) (15) Disposals 6 — Exchange differences — 1 Closing Balance at June 30 (50) (33) Net book value as of June 30 62 30

Right-of-use assets (Tables)

Right-of-use assets (Tables)	12 Months Ended
Right-of-use assets (Tables)	Jun. 30, 2024
Changes in right-of-use assets [abstract]
Right-of-use assets	June 30, 2024 2023 (In thousands of US Dollars) Net carrying amount: Office Building 368 — Land 11 45 2024 2023 (In thousands of US Dollars) Movements in carrying amounts: Opening balance at July 1 146 152 Additions during the year 394 — Exchange differences (8) (6) Closing Balance at June 30 532 146 Accumulated depreciation Opening Balance at July 1 (101) (71) Depreciation expense (63) (34) Exchange differences 11 4 Closing Balance at June 30 (153) (101) Net book value June 30 379 45 Amounts recognised in profit and loss: Depreciation expense on right-of-use asset (63) (34) Interest expense on lease liabilities (23) (6)

Lease Liabilities (Tables)

Lease Liabilities (Tables)	12 Months Ended
Lease Liabilities (Tables)	Jun. 30, 2024
Lease liabilities [abstract]
Lease liabilities	June 30, 2024 2023 (In thousands of US Dollars) Current Lease liabilities 134 26 Non-current Lease liabilities 299 28 Total Lease Liability 433 54
Future minimum lease payments	Future lease payments payable in relation to lease of the office and land: June 30, 2024 2023 (In thousands of US Dollars) Within one year 111 43 Later than one year but not later than 5 years 467 14 Total 578 57

Provisions (Tables)

Provisions (Tables)	12 Months Ended
Provisions (Tables)	Jun. 30, 2024
Provisions [abstract]
Employee benefit provisions	June 30, 2024 2023 (In thousands of US Dollars) Current: Employee benefits 314 183 Non-current: Employee benefits 156 117 Total Provisions 470 300 Movements in provisions: Employee benefits Opening Balance 300 234 Additions 355 247 Utilisations (214) (171) Exchange differences 29 (10) Closing Balance 470 300

Issued Capital (Tables)

Issued Capital (Tables)	12 Months Ended
Issued Capital (Tables)	Jun. 30, 2024
Issued capital [abstract]
Issued capital, ordinary shares	June 30, 2024 2023 (In thousands of US Dollars) 25,129,140 fully paid ordinary shares (1) — 2,354 29,973,504 fully paid following completion of the Capital Reorganisation, net of transaction costs 297,618 — Total Issued Capital 297,618 2,354 Ordinary shareholders participate in dividends and the proceeds on winding up of the parent entity in proportion to the number of shares held. The ordinary shares have no par value. The Company does not have a limited amount of authorised capital. ______________________________________________________________ (1) Calculation of the earnings per share for the year ended June 30, 2023 on the consolidated statements of profit or loss and other comprehensive income are adjusted retrospectively to reflect 25,129,140 Ordinary Shares converting into 2,149,294 Ordinary Shares upon consummation of the Capital Reorganisation. June 30, 2024 (In number of shares) (In thousands of US Dollars) Issuance of shares to employees (1a)(b) 2,301,433 638 Conversion of debt to equity (1c)(2) 15,956,925 208,800 Shares issued to acquire NETC (3)(4)(5) 5,654,616 67,799 PIPE funding (6) 1,715,686 17,506 Shares issued as settlement of transaction expenses (7) 171,569 2,057 Transaction costs accounted for as a deduction from equity (IAS 32) — (1,536) Movement in Issued capital 25,800,229 295,264 At the effective time of the Capital Reorganisation , Vast issued: (1) As a result of a share consolidation exercise, Vast issued 21,137,033 ordinary shares immediately prior to completion of the Capital Reorganisation. In a reverse stock split the equity of the merged entity shall reflect the original carrying value of the target’s equity (i.e. Vast) plus the net proceeds received from NETC. Shares issued to Legacy Vast Shareholders (i.e., AgCentral Energy Pty Ltd ("AgCentral Energy") and certain employees and former employees of Vast): (a) 2,036,900 Ordinary Shares issued to MEP Shareholders under the MEP Deed dated on or around July 30, 2020, as amended on February 14, 2023 pursuant to the MEP De-SPAC Side Deed. These were exchanged on 1 to 1 basis using carrying value determined just prior to share consolidation exercise. Refer to Note 20 – Reserves for further details; (b) 264,533 Ordinary Shares granted to certain employees of Vast and issued to an employee share trust until such time they are vested, out of the previous MEP share pool, which had not been previously granted to any employees prior to the Capital Reorganisation. Vast consolidates the trust. These shares are treated as treasury shares with nil carrying value as at June 30, 2024 . Refer to Note 20 – Reserves for further details; (c) 18,198,566 Ordinary Shares issued to AgCentral Energy in exchange for settlement and cancellation of: (i) 25,129,140 Legacy Vast Shares for which AgCentral Energy paid an average price of approximately $0.09 per share. On exchange date, the Company recognised the new issued shares at the carrying amount of Legacy Vast Shares from the condensed statement of financial position (including the Capital Contribution Reserve associated to AgCentral Energy, forming part of Vast’s opening reserves as of July 1, 2023), and (ii) convertible notes and other indebtedness of Vast towards AgCentral Energy. On conversion to equity, the Company derecognised the financial liabilities at their carrying amount from the condensed statement of financial position and recognised them as issued capital. This includes the derivative financial liabilities associated with the notes. (2) An aggregate of 1,250,014 Ordinary Shares upon conversion of Senior Convertible Notes held by AgCentral Energy and Nabors Lux. (3) An aggregate of 804,616 Ordinary Shares upon conversion of shares of NETC Class A Common Stock to the holders thereof. Pursuant to the Business Combination Agreement, each share of NETC Class A Common Stock (other than shares of NETC properly submitted for redemption) issued and outstanding immediately prior to the Effective Time were exchanged for on a one-to-one basis for Ordinary Shares. This includes 633,250 shares of NETC Class A common stock purchased by Capital Airport Group ("CAG") to satisfy its’ financing obligations. (4) An aggregate of 3,000,000 Ordinary Shares upon conversion of Founder Shares (On March 30, 2021, NETC was funded with $25,000 for which it issued 8,625,000 shares of Class F common stock, par value $ 0.0001 per share — the “Founder Shares”) to the holders thereof, and an aggregate of 1,500,000 Ordinary Shares to former members of NETC Sponsor as acceleration of a portion of the Earnback Shares ( up to 2,400,000 Ordinary Shares that may be issued to the NETC Sponsor upon the achievement of certain share price targets) , pursuant to the Nabors Backstop Agreement. Includes 129,911 Ordinary Shares issued upon conversion of the Founder Shares transferred to CAG prior to the Capital Reorganisation in connection with CAG’s investments. Pursuant to the CAG Non-Redemption Agreement, CAG agreed not to redeem the shares of NETC’s Class A common stock, in exchange for Nabors Lux agreeing to issue to CAG 129,911 Ordinary Shares. On conversion, the difference between the fair value of the shares issued and net assets/liabilities acquired has been recorded as share based payment expense. Refer to Note 25. Capital reorganization (the “SPAC Merger”) for further information. (5) 350,000 Ordinary Shares to Nabors Lux pursuant to the Nabors Backstop Agreement issued as Incremental Funding Commitment Fee. ( the $2.5 million purchase price paid to Vast by Nabors Lux as consideration for the Senior Convertible Note issued pursuant to the October Notes Subscription Agreement). (6) An aggregate of 1,715,686 Ordinary Shares to AgCentral Energy and Nabors Lux pursuant to their respective Equity Subscription Agreements. (7) 171,569 Shares to Guggenheim Securities issued as settlement for transaction expenses, expensed under IFRS 2.
Movement in issued capital	June 30, 2024 2023 (In thousands of US Dollars) 25,129,140 fully paid ordinary shares (1) — 2,354 29,973,504 fully paid following completion of the Capital Reorganisation, net of transaction costs 297,618 — Total Issued Capital 297,618 2,354 Ordinary shareholders participate in dividends and the proceeds on winding up of the parent entity in proportion to the number of shares held. The ordinary shares have no par value. The Company does not have a limited amount of authorised capital. ______________________________________________________________ (1) Calculation of the earnings per share for the year ended June 30, 2023 on the consolidated statements of profit or loss and other comprehensive income are adjusted retrospectively to reflect 25,129,140 Ordinary Shares converting into 2,149,294 Ordinary Shares upon consummation of the Capital Reorganisation. June 30, 2024 (In number of shares) (In thousands of US Dollars) Issuance of shares to employees (1a)(b) 2,301,433 638 Conversion of debt to equity (1c)(2) 15,956,925 208,800 Shares issued to acquire NETC (3)(4)(5) 5,654,616 67,799 PIPE funding (6) 1,715,686 17,506 Shares issued as settlement of transaction expenses (7) 171,569 2,057 Transaction costs accounted for as a deduction from equity (IAS 32) — (1,536) Movement in Issued capital 25,800,229 295,264 At the effective time of the Capital Reorganisation , Vast issued: (1) As a result of a share consolidation exercise, Vast issued 21,137,033 ordinary shares immediately prior to completion of the Capital Reorganisation. In a reverse stock split the equity of the merged entity shall reflect the original carrying value of the target’s equity (i.e. Vast) plus the net proceeds received from NETC. Shares issued to Legacy Vast Shareholders (i.e., AgCentral Energy Pty Ltd ("AgCentral Energy") and certain employees and former employees of Vast): (a) 2,036,900 Ordinary Shares issued to MEP Shareholders under the MEP Deed dated on or around July 30, 2020, as amended on February 14, 2023 pursuant to the MEP De-SPAC Side Deed. These were exchanged on 1 to 1 basis using carrying value determined just prior to share consolidation exercise. Refer to Note 20 – Reserves for further details; (b) 264,533 Ordinary Shares granted to certain employees of Vast and issued to an employee share trust until such time they are vested, out of the previous MEP share pool, which had not been previously granted to any employees prior to the Capital Reorganisation. Vast consolidates the trust. These shares are treated as treasury shares with nil carrying value as at June 30, 2024 . Refer to Note 20 – Reserves for further details; (c) 18,198,566 Ordinary Shares issued to AgCentral Energy in exchange for settlement and cancellation of: (i) 25,129,140 Legacy Vast Shares for which AgCentral Energy paid an average price of approximately $0.09 per share. On exchange date, the Company recognised the new issued shares at the carrying amount of Legacy Vast Shares from the condensed statement of financial position (including the Capital Contribution Reserve associated to AgCentral Energy, forming part of Vast’s opening reserves as of July 1, 2023), and (ii) convertible notes and other indebtedness of Vast towards AgCentral Energy. On conversion to equity, the Company derecognised the financial liabilities at their carrying amount from the condensed statement of financial position and recognised them as issued capital. This includes the derivative financial liabilities associated with the notes. (2) An aggregate of 1,250,014 Ordinary Shares upon conversion of Senior Convertible Notes held by AgCentral Energy and Nabors Lux. (3) An aggregate of 804,616 Ordinary Shares upon conversion of shares of NETC Class A Common Stock to the holders thereof. Pursuant to the Business Combination Agreement, each share of NETC Class A Common Stock (other than shares of NETC properly submitted for redemption) issued and outstanding immediately prior to the Effective Time were exchanged for on a one-to-one basis for Ordinary Shares. This includes 633,250 shares of NETC Class A common stock purchased by Capital Airport Group ("CAG") to satisfy its’ financing obligations. (4) An aggregate of 3,000,000 Ordinary Shares upon conversion of Founder Shares (On March 30, 2021, NETC was funded with $25,000 for which it issued 8,625,000 shares of Class F common stock, par value $ 0.0001 per share — the “Founder Shares”) to the holders thereof, and an aggregate of 1,500,000 Ordinary Shares to former members of NETC Sponsor as acceleration of a portion of the Earnback Shares ( up to 2,400,000 Ordinary Shares that may be issued to the NETC Sponsor upon the achievement of certain share price targets) , pursuant to the Nabors Backstop Agreement. Includes 129,911 Ordinary Shares issued upon conversion of the Founder Shares transferred to CAG prior to the Capital Reorganisation in connection with CAG’s investments. Pursuant to the CAG Non-Redemption Agreement, CAG agreed not to redeem the shares of NETC’s Class A common stock, in exchange for Nabors Lux agreeing to issue to CAG 129,911 Ordinary Shares. On conversion, the difference between the fair value of the shares issued and net assets/liabilities acquired has been recorded as share based payment expense. Refer to Note 25. Capital reorganization (the “SPAC Merger”) for further information. (5) 350,000 Ordinary Shares to Nabors Lux pursuant to the Nabors Backstop Agreement issued as Incremental Funding Commitment Fee. ( the $2.5 million purchase price paid to Vast by Nabors Lux as consideration for the Senior Convertible Note issued pursuant to the October Notes Subscription Agreement). (6) An aggregate of 1,715,686 Ordinary Shares to AgCentral Energy and Nabors Lux pursuant to their respective Equity Subscription Agreements. (7) 171,569 Shares to Guggenheim Securities issued as settlement for transaction expenses, expensed under IFRS 2.

Reserves (Tables)

Reserves (Tables)	12 Months Ended
Reserves (Tables)	Jun. 30, 2024
Disclosure of reserves within equity [abstract]
Disclosure of Equity Reserves	June 30, 2024 2023 (In thousands of US Dollars) Share-based payment reserve 24,294 4 Capital contribution reserve — 4,591 Foreign currency translation reserve 2,883 3,285 Closing Balance 27,176 7,880
Disclosure of Movement in Share-Based Payment Reserve	Movement in share-based payment reserve is as follows: 2024 2023 (In thousands of US Dollars) As of July 1 4 4 Add: Fair value of earnout for NETC Sponsor issuable to Nabors Lux 22,576 — Add: Share based payment expense for the period from December 18, 2023 to June 30, 2024 1,676 — Foreign exchange differences 38 — As of June 30 24,294 4
Disclosure of Movement in Foreign Currency Translation	Movement in foreign currency translation reserve is as follows: 2024 2023 (In thousands of US Dollars) As of July 1 3,285 2,394 Movement during the year (402) 891 As of June 30 2,883 3,285
Disclosure of Movement in Capital Contribution Reserve	Movement in capital contribution reserve is as follows: 2024 2023 (In thousands of US Dollars) As of July 1 4,591 3,452 Interest forgiveness on convertible notes and shareholder loan — 1,517 Derecognition upon consummation of the Capital Reorganization (4,591) — Deferred tax impact — (378) As of June 30 — 4,591

Accumulated losses_Retained E_2

Accumulated losses/Retained Earnings (Tables)	12 Months Ended
Accumulated losses/Retained Earnings (Tables)	Jun. 30, 2024
Subclassifications of assets, liabilities and equities [abstract]
Movements in accumulated losses	Movements in accumulated losses were as follows: 2024 2023 2022 (In thousands of US Dollars) As of July 1 (39,649) (24,432) (18,239) Loss during the year (293,445) (15,217) (6,193) As of June 30 (333,094) (39,649) (24,432)

Financial Instruments - Fair _2

Financial Instruments - Fair Value and Financial Risk management (Tables)	12 Months Ended
	Jun. 30, 2024
Fair Value Disclosure [Abstract]
Disclosure of Financial Liabilities	The following table shows the carrying amounts and fair values of financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value. June 30, 2024 2023 (In thousands of US Dollars) Warrants liability designated at fair value – Level 1 hierarchy (1) 3,670 — Nabors Backstop facility designated at fair value – Level 3 hierarchy (2) 6,953 — Derivative financial instrument designated at fair value associated with EDF Promissory Note – Level 3 hierarchy (3) 561 — Derivative financial instrument designated at fair value associated with Convertible Notes 3, 4 and 5 and Senior Convertible Notes – Level 3 hierarchy (4) — 192 (1) Refer to Note 12. Warrants Liability for key valuation inputs applied to these warrants. (2) The following table show the valuation technique used in measuring level 3 fair values for financial instruments measured at fair value as well as significant unobservable inputs used: Type Valuation technique Significant unobservable inputs Nabors Backstop facility designated at fair value – Level 3 hierarchy Valuation have been determined by Discounted Cashflows Probability of triggering contingent settlement feature: 0% Refer to Note 13 – Borrowings and other financial liabilities - (b) Nabors Backstop Agreement for key valuation inputs. (3) The following table show the valuation technique used in measuring level 3 fair values for financial instruments measured at fair value as well as significant unobservable inputs used: Type Valuation technique Significant unobservable inputs Derivative financial instrument designated at fair value – Level 3 hierarchy Derivative valuations have been determined by a Black-Scholes formula adjusted for dilution Risk free rate: 4.48% Volatility: 70% A 10% increase in the volatility assumption would result in a change of $0.20 million in fair value of the derivative financial instrument as June 30, 2024 and 2023. A 10% increase in the risk-free rate assumption would not result in a material change in fair value of the derivative financial instrument as of June 30, 2024 and 2023. (4) The following table shows the valuation technique used in measuring level 3 fair values for derivative financial instruments measured at fair value associated with Convertible Notes 3, 4, and 5 and Senior Convertible Notes as well as significant unobservable inputs used: Type Valuation technique Significant unobservable inputs Derivative financial instrument designated at fair value – Level 3 hierarchy Derivative valuations have been determined by a Black-Scholes formula adjusted for dilution Risk free rate: not applicable Volatility: not applicable
Disclosure of Reconciliation of Level 3 Fair Values	The following table shows a reconciliation from the opening balances to the closing balances for Level 3 fair values. Movements in derivative financial instruments (In thousands of Opening balance as of July 1, 2023 192 Additions – Embedded derivative associated to EDF Promissory Note 5,616 Additions – Embedded derivative associated to Senior Convertible Notes 288 Fair value changes recognised as unrealised loss in profit or loss – Embedded derivative associated with EDF Promissory Note (4,925) Fair value changes recognised as realised loss in profit or loss – Embedded derivative associated with Senior Convertible Notes 2,334 Fair value changes recognised as realised loss in profit or loss – Embedded derivative associated with Convertible Notes 3,4 and 5 168,042 Conversion to Issued Capital upon consummation of the Capital Reorganisation - Embedded derivatives associated with Convertible Notes 3,4 and 5 and Senior Convertible Notes (170,986) Closing balance as of June 30, 2024 561 Opening balance as of July 1, 2023 32 Fair value changes recognised as unrealised gain in profit or loss (5) Closing balance as of June 30, 2024 27
Disclosure Exposure to Foreign Currency Risk	Vast’s exposure to foreign currency risk at the end of the reporting period, expressed in EUR and USD are as follows: June 30, 2024 2023 (In thousands) Trade payables EUR 94 17 USD 62 66
Disclosure of Foreign Exchange Amounts Recgnized in Profit or Loss	During the year, the following foreign exchange related amounts were recognised in profit or loss: Twelve Months Ended June 30, 2024 2023 2022 (In thousands of US Dollars) Amounts recognised in profit or loss Unrealised Currency Gain/(Loss) 3 1 (1) Realised Currency (Loss)/Gains (200) 14 2 (197) 15 1
Disclosure of Financial Risk Management	As of June 30, 2024 (In thousands of US Dollars) Carrying amount Total contractual cash flows 2 months or less 3 – 36 months Beyond 36 months Promissory Note - EDF (5,869) 10,928 — — (10,928) Backstop Agreement - Nabors (6,953) 6,953 — (6,953) — Deferred consideration (959) 994 — (994) — Trade Payables (5,157) 5,157 (5,157) — — Warrants liability (3,670) 3,670 (3,670) — Lease liabilities (433) 578 (20) (199) (359) Total non-derivatives (23,040) 28,280 (5,177) (11,816) (11,287) As of June 30, 2023 (In thousands of US Dollars) Carrying Total contractual 2 months 3 – 36 months Beyond Convertible notes (21,415) 21,708 — (21,708) — Loan from shareholder (5,531) 5,704 — (5,704) — Deferred consideration (955) 995 — (995) — Trade Payables (5,622) 5,622 (5,622) — — Lease liabilities (54) 57 (7) (50) — Total non-derivatives (33,577) 34,086 (5,629) (28,457) — Derivative financial instruments (192) 192 — (192) —
Disclosure of Maturity Analysis for Derivative Financial Liabilities	As of June 30, 2024 (In thousands of US Dollars) Carrying amount Total contractual cash flows 2 months or less 3 – 36 months Beyond 36 months Promissory Note - EDF (5,869) 10,928 — — (10,928) Backstop Agreement - Nabors (6,953) 6,953 — (6,953) — Deferred consideration (959) 994 — (994) — Trade Payables (5,157) 5,157 (5,157) — — Warrants liability (3,670) 3,670 (3,670) — Lease liabilities (433) 578 (20) (199) (359) Total non-derivatives (23,040) 28,280 (5,177) (11,816) (11,287) As of June 30, 2023 (In thousands of US Dollars) Carrying Total contractual 2 months 3 – 36 months Beyond Convertible notes (21,415) 21,708 — (21,708) — Loan from shareholder (5,531) 5,704 — (5,704) — Deferred consideration (955) 995 — (995) — Trade Payables (5,622) 5,622 (5,622) — — Lease liabilities (54) 57 (7) (50) — Total non-derivatives (33,577) 34,086 (5,629) (28,457) — Derivative financial instruments (192) 192 — (192) —
Disclosure of Maturity Analysis for Non-Derivative Financial Liabilities	As of June 30, 2024 (In thousands of US Dollars) Carrying amount Total contractual cash flows 2 months or less 3 – 36 months Beyond 36 months Promissory Note - EDF (5,869) 10,928 — — (10,928) Backstop Agreement - Nabors (6,953) 6,953 — (6,953) — Deferred consideration (959) 994 — (994) — Trade Payables (5,157) 5,157 (5,157) — — Warrants liability (3,670) 3,670 (3,670) — Lease liabilities (433) 578 (20) (199) (359) Total non-derivatives (23,040) 28,280 (5,177) (11,816) (11,287) As of June 30, 2023 (In thousands of US Dollars) Carrying Total contractual 2 months 3 – 36 months Beyond Convertible notes (21,415) 21,708 — (21,708) — Loan from shareholder (5,531) 5,704 — (5,704) — Deferred consideration (955) 995 — (995) — Trade Payables (5,622) 5,622 (5,622) — — Lease liabilities (54) 57 (7) (50) — Total non-derivatives (33,577) 34,086 (5,629) (28,457) — Derivative financial instruments (192) 192 — (192) —

Capital reorganization (the "_2

Capital reorganization (the "SPAC Merger") (Tables)	12 Months Ended
Capital reorganization (the "SPAC Merger") (Tables)	Jun. 30, 2024
Capital Reorganization [Abstract]
Ordinary shares issued in exchange	These financial statements for the year ended June 30, 2024 give effect to the Capital Reorganisation and related transactions summarized below: Ordinary Shares issued in exchange for the following (in thousands): NETC Class A Common Stock (b) 805 Backstop Commitment Fee (f) 350 NETC Class F Common Stock (b) 3,000 Accelerated Earnback Shares (f) 1,500 Ordinary Shares issued 5,655 Fair value of Ordinary shares issued in exchange for NETC shares valued at $11.99 per share 67,799 Vast Warrants issued in exchange for NETC warrants (c) 4,129 Shares issued as settlement of transaction expenses (e) 307 Fair value of earnout for NETC Sponsor (g)(h) 22,576 Fair value of share consideration 94,811 Adjusted NETC’s net liabilities upon closing (a) 11,206 Total 106,017 (a) the merger of NETC with and into Neptune Merger Sub Inc., a wholly owned subsidiary of Vast, with NETC surviving the merger as a wholly-owned subsidiary of Vast. The net liabilities of NETC upon closing were as follows: As at December 18, 2023 (in thousands) Assets: Cash 9,203 Prepaid expenses 1,325 Total assets 10,528 Liabilities: Trade and Other Payables 21,525 Income taxes payable 209 Total liabilities 21,734 Total net liabilities (11,206) (b) the completion of the Vast pre-closing reorganization, which included the Existing Convertible Note Conversion, the MEP Share Conversion, and the Vast Split Adjustment; the exchange of all outstanding Founder Shares into 3 million Ordinary Shares, and all outstanding NETC Class A Shares that were not redeemed by the Class A shareholders into an equivalent number of Ordinary Shares; (c) the exchange of all outstanding NETC Warrants into an equal number of Vast Warrants, with substantially the same terms; (d) the entry into various agreements with CAG, under which CAG committed to invest $ 7 million of PIPE Financing. CAG and Vast agreed that this commitment would be satisfied by CAG’s purchase of Class A common stock of NETC from existing NETC stockholders who previously elected to redeem their shares in connection with the Capital Reorganisation and whose redemption election would be reversed. The $ 7 million included in Cash has been reflected in Issued Capital of Vast upon consummation of the Capital Reorganisation ; (e) the issuance of 171,569 Ordinary Shares to Guggenheim Securities as consideration for its services. A resulting loss of $ 0.3 million upon consummation of the Capital Reorganisation has been recorded within share based listing expenses; (f) the issuance of 1.5 million Ordinary Shares as Accelerated Earnback Shares pursuant to the Nabors Backstop Agreement and issuance of 350,000 Ordinary Shares as Incremental Funding Commitment Fee pursuant to the October Notes Subscription Agreement. (g) During the Earnout Period, Vast may issue up to an aggregate of 2.4 million additional Ordinary Shares to NETC Sponsor in three equal tranches and up to an aggregate of 1.3 million Ordinary Shares to Legacy Vast Shareholders in three equal tranches, upon the occurrence of each Triggering Event. Refer to Note 20 – Reserves for further details. (h) Additionally, Vast may also issue 1.5 million Ordinary Shares to Legacy Vast Shareholders upon receiving a notice to proceed under a contract for the procurement of a concentrated solar power plant at Port Augusta, in South Australia. Refer to Note 20 – Reserves for further information.
Shares issued upon closing of BCA	The following summarized the number of Ordinary Shares issued upon closing of the Capital Reorganisation : Shares issued upon closing of the Capital Reorganisation Ownership in shares % Legacy Vast shareholders 20,499,999 70.0% Other 804,616 2.7% NETC initial stockholders 4,500,000 15.4% Shares issued to Nabors Lux and AgCentral Energy in connection with financing transactions 3,315,700 11.3% Shares issued as settlement of transaction expenses 171,569 0.6% Total shares issued upon closing 29,291,884 100%

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
Related Party Transactions (Tables)	Jun. 30, 2024
Related party transactions [abstract]
Transactions between related parties	Place of Ownership interest Name Type 2024 2023 2022 AgCentral Energy Pty Ltd Parent Australia 71 100 % — AgCentral Pty Ltd Parent Australia — — 100 % Nabors Industries Ltd. Shareholder USA 32 % — — During the year ended June 30, 2023, under a tripartite novation deed, AgCentral Pty Ltd novated the totality of its ordinary shares to AgCentral Energy Pty Ltd. The following transactions occurred with related parties: For the year ended June 30, 2024 2023 2022 (In thousands of US Dollars) Lease rental payment to other related parties 50 43 44 Loan drawn down from parent entity – subsequently converted to Issued Capital upon consummation of the Capital Reorganisation 12,500 4,015 1,838 Loan drawn down from investors – subsequently converted to Issued Capital upon consummation of the Capital Reorganisation 10,000 9,348 2,091 Backstop Facility drawn down from investors 6,953 — — Gain on modification of borrowings recognised in the Capital contribution reserve (4,591) 1,139 1,697 Settlement of all Convertibles Notes, Senior Convertible Notes and Loans from Shareholder upon consummation of the Capital Reorganisation (226,373) — — Gain on revaluation of derivative financial instruments 170,376 (105) (3) Movement in Investment in joint venture (206) (242) 1,712 Share based payment expense for the transfer of 264,533 Ordinary Shares issued to the employee share trust and granted to certain employees of Vast. 1,676 — — For the year ended June 30, 2024 2023 2022 (In thousands of US Dollars) Short-term employee compensation/benefits 2,796 1,775 1,130 Share-based payment expense (1) (2) 1,189 — — Long-term employee compensation/benefits 29 27 10 4,014 1,802 1,140 (1) Additional value allocated to the MEP shares as discussed in note Note 20 – Reserves, were recognised at fair value and expensed immediately through profit or loss during the twelve months ended June 30, 2024, within share based payment expense for $0.6 million. (2) In addition, the Share based payment expense of $1.7 million for the transfer of 264,533 Ordinary Shares issued to the employee share trust and granted to certain employees of Vast, for the twelve months ended June 30, 2024 as shown above, includes a portion of $0.6 million for the shares granted to key management personnel. The following balances are outstanding at the end of the reporting period in relation to transactions with related parties : June 30, 2024 2023 (In thousands of US Dollars) Trade and other receivables owed from related party - Nabors Lux 2 S.a.r.l. — — Trade and other payables owed to related party - Capital Airport Group — (54) Lease liabilities for lease arrangement with related party 33 — June 30, 2024 2023 (In thousands of US Dollars) Loan to joint venture 456 225 Loan from shareholder (6,953) (5,531) Loans from shareholder – Convertible Note 3 — (8,762) Loans from shareholder – Convertible Note 4 — (4,405) Loans from shareholder – Convertible Note 5 — (1,114) Loans from shareholder – Senior Convertible Note — (2,438)
Subsidiaries	Place of Ownership interest Name Type 2024 2023 Nabors Transition Energy Corp Subsidiary United States 100 % 0 % Neptune Merger Sub, Inc. Subsidiary United States 0 % 100 % NWQHPP Pty Ltd Subsidiary Australia 100 % 100 % Solar Methanol 1 Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar Aurora Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar 1 Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar Consulting Pty Ltd Subsidiary Australia 100 % 100 % Vast Employee Shareholdings Pty Ltd Subsidiary Australia 100 % 0 % Vast Intermediate HoldCo Pty Ltd Subsidiary Australia 100 % 0 % Vast Australia HoldCo Pty Ltd Subsidiary Australia 100 % 0 % HyFuel Solar Refinery Pty Ltd Subsidiary Australia 100 % 0 % Vast Renewables HoldCo Corp Subsidiary United States 100 % 0 % Vast Renewables Management Services LLC Subsidiary United States 100 % 0 % Vast US Projects HoldCo Corp Subsidiary United States 100 % 0 % El Paso ProjectCo LLC Subsidiary United States 100 % 0 % Place of Ownership interest Name Type 2024 2023 Nabors Transition Energy Corp Subsidiary United States 100 % - % Neptune Merger Sub, Inc. Subsidiary United States - % 100 % NWQHPP Pty Ltd Subsidiary Australia 100 % 100 % Solar Methanol 1 Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar Aurora Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar 1 Pty Ltd Subsidiary Australia 100 % 100 % Vast Solar Consulting Pty Ltd Subsidiary Australia 100 % 100 % Vast Employee Shareholdings Pty Ltd Subsidiary Australia 100 % - % Vast Intermediate HoldCo Pty Ltd Subsidiary Australia 100 % - % Vast Australia HoldCo Pty Ltd Subsidiary Australia 100 % - % HyFuel Solar Refinery Pty Ltd Subsidiary Australia 100 % - % Vast Renewables HoldCo Corp Subsidiary United States 100 % - % Vast Renewables Management Services LLC Subsidiary United States 100 % - % Vast US Projects HoldCo Corp Subsidiary United States 100 % - % El Paso ProjectCo LLC Subsidiary United States 100 % - %

Cash Flow Information (Tables)

Cash Flow Information (Tables)	12 Months Ended
Cash Flow Information (Tables)	Jun. 30, 2024
Statement of cash flows [abstract]
Net debt reconciliation	This section sets out an analysis of net debt and the movements in net debt for each of the periods presented. June 30, Net debt 2024 2023 (In thousands of US Dollars) Cash and cash equivalents 11,081 2,060 Borrowings and other financial liabilities (12,821) (26,946) Lease liabilities (433) (54) Net debt (2,172) (24,940)
Net debt movements	Net debt movements: Liabilities from financing activities Borrowings and other financial liabilities Leases (In thousands of US Dollars) Net debt as of July 1, 2021 (15,431) (137) Proceeds from loan from related party (1,838) — Capital contribution (excluding tax impact) 2,315 — Fixed payments — 46 Interest payments (2,109) (10) Interest expense 1,431 8 Net debt as of July 1, 2022 (15,632) (93) Proceeds from loan from related party (11,138) — Capital contribution (excluding tax impact) 1,517 — Fixed payments — 43 Interest expense (2,461) (6) Foreign exchange differences 767 3 Net debt as of June 30, 2023 (26,946) (53) Proceeds from loans (35,285) — Additions (5,000) (394) Conversion of loans from AgCentral Energy Ltd 34,447 — Conversion of loans from Nabors Lux 15,000 — Fair value of embedded derivatives 5,486 — Fixed payments — 55 Interest expense (522) (23) Foreign exchange differences — (18) Net debt as of June 30, 2024 (12,821) (433)

General information (Details)

General information (Details) - USD ($)	Jun. 30, 2024	Dec. 18, 2023
General Information [Abstract]
Intangible assets and goodwill	$ 0
Ordinary share, fair value (in dollars per share)		$ 11.99

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Basis of presentation (Details)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Disclosure of objectives, policies and processes for managing capital [abstract]
Year-end exchange rate	0.6620	0.6630	0.6889

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Segment reporting (Details)	Jun. 30, 2024 segment
Disclosure of objectives, policies and processes for managing capital [abstract]
Number of operating segments	1

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Going concern (Details) $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jan. 12, 2024 USD ($)	Jan. 09, 2024 shares	Dec. 19, 2023 USD ($)	Dec. 19, 2023 EUR (€)	Feb. 13, 2023 AUD ($)	Jan. 27, 2023 AUD ($)	Jan. 27, 2023 EUR (€)
Disclosure of joint ventures [line items]
Net loss	$ 293,445,000	$ 15,217,000	$ 6,193,000
Cash flows from (used in) operating activities	(40,309,000)	(9,051,000)	$ (4,110,000)
Net current assets	3,600,000
Net liabilities	8,300,000
Number of ordinary shares issued (in shares) \| shares					681,620
Borrowings and other financial liabilities	12,821,000	7,134,000
Loans and receivables, category \| ARENA
Disclosure of joint ventures [line items]
Financial assets								$ 65	$ 19.5
Loans and receivables, category \| Projekttrager \| Mabanaft
Disclosure of joint ventures [line items]
Financial assets \| €										€ 12,400,000
Loans and receivables, category \| Australian Federal Government
Disclosure of joint ventures [line items]
Financial assets									$ 110
Promissory Note - EDF
Disclosure of joint ventures [line items]
Borrowings	5,400,000					$ 10,831,953	€ 10,000,000
Borrowings and other financial liabilities	5,869,000	0
Backstop Agreement - Nabors
Disclosure of joint ventures [line items]
Borrowings and other financial liabilities	6,953,000	$ 0		$ 7,000,000
Term Loan, Backstop Agreement - Nabors
Disclosure of joint ventures [line items]
Borrowings and other financial liabilities	$ 5,000,000

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Property, plant and equipment (Details)	12 Months Ended
	Jun. 30, 2024
Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation rate, property, plant and equipment	10%
Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation rate, property, plant and equipment	50%

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Critical accounting judgments and key sources of estimation uncertainty and errors (Details)	12 Months Ended
	Jun. 30, 2024
Disclosure of objectives, policies and processes for managing capital [abstract]
Annual discount rate used to calculate fair value of deferred consideration	6.19%

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Principles of consolidation (Details) - AUD ($) $ in Millions		1 Months Ended
	Jun. 15, 2022	Feb. 29, 2024	Jun. 30, 2022
SiliconAurora
Disclosure of joint ventures [line items]
Percentage of shares acquired in joint venture	50%		50%
Mabanaft
Disclosure of joint ventures [line items]
Funding agreement		$ 40

Revenue from Customers (Details

Revenue from Customers (Details) - USD ($) $ in Thousands	12 Months Ended
Revenue from Customers (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from customers	$ 342	$ 268	$ 163
Margin fee	10%
CSIRO
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from customers	$ 246	253	163
Other
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from customers	96	15	0
At a point in time
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from customers	342	199	23
Over time
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from customers	0	69	140
Consulting fees
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from customers	336	170	140
Margin fees
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from customers	$ 6	$ 98	$ 23

Grant Revenue - Grant revenue (

Grant Revenue - Grant revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Government Grants [Line Items]
Grant revenue	$ 0	$ 651	$ 1,754
ARENA grant
Government Grants [Line Items]
Grant revenue	0	0	1,001
R&D tax credit recoveries
Government Grants [Line Items]
Grant revenue	$ 0	$ 651	$ 753

Grant Revenue - Narrative (Deta

Grant Revenue - Narrative (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
ARENA grant
Government Grants [Line Items]
Grant income deferred	$ 0	$ 0

Grant Revenue - R&D tax incenti

Grant Revenue - R&D tax incentives (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Government Grants [Line Items]
R&D Tax credit recoveries recognised as grant income	$ 0	$ 651	$ 1,754
R&D tax credit recoveries
Government Grants [Line Items]
Refundable R&D tax offset for the year	0	651	753
R&D Tax credit recoveries recognised as grant income	$ 0	$ 651	$ 753

Expenses (Details)

Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Derivative, Gain (Loss) on Derivative, Net [Line Items]
Raw materials and consumables cost	$ 783	$ 572	$ 205
Power and fuel expense	32	28	36
Raw materials and consumables used	815	600	241
Consulting – Corporate	880	926	760
Consulting – Projects	3,062	1,208	1,174
Consultancy expenses	3,943	2,134	1,934
Legal and accounting expenses	5,224	7,151	1,163
Subscriptions, software and licences	248	239	137
Travelling expenses	366	253	84
Marketing expenses	933	111	58
Share base payment expenses	2,314	0	0
Other expenses	1,444	326	176
Administrative and other expenses	10,529	8,080	1,618
Salaries and wages	4,460	2,554	2,412
Superannuation	391	242	215
Payroll tax	254	111	92
Employee entitlements – annual leave (AL)	130	42	15
Employee entitlements – long service leave (LSL)	39	34	22
Employee benefits expenses	5,274	2,984	2,756
Exchange differences	(129)	0	0
(Gain)/loss on derivative financial instruments	164,935	(105)	3
Share based listing expenses	106,055	0	0
Research and development expense	2,200	1,500	1,580
Realised loss on Convertible Notes 3, 4 and 4, and Senior Convertible Notes issued to AgCentral Energy2
Derivative, Gain (Loss) on Derivative, Net [Line Items]
(Gain)/loss on derivative financial instruments	170,376	0	0
Unrealised gain on Convertible Notes 3, 4 and 4, and Senior Convertible Notes issued to AgCentral Energy
Derivative, Gain (Loss) on Derivative, Net [Line Items]
(Gain)/loss on derivative financial instruments	0	(105)	3
Unrealised gain on Promissory Note issued to EDF 2
Derivative, Gain (Loss) on Derivative, Net [Line Items]
(Gain)/loss on derivative financial instruments	(4,912)	0	0
Unrealised gain on NETC Warrants 2
Derivative, Gain (Loss) on Derivative, Net [Line Items]
(Gain)/loss on derivative financial instruments	$ (400)	$ 0	$ 0

Income Tax Benefit - Income tax

Income Tax Benefit - Income tax (expense) / benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income taxes paid (refund) [abstract]
Current tax expense	$ 0	$ 0	$ 0
Deferred tax expense
Decrease/(increase) in deferred tax assets	(1,256)	176	(91)
(Decrease)/increase in deferred tax liabilities	1,256	(554)	(527)
Deferred tax liability (asset), total change	0	(378)	(618)
Income tax (expense) / benefit	$ 0	$ 378	$ 618

Income Tax Benefit - Reconcilia

Income Tax Benefit - Reconciliation of income tax benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income taxes paid (refund) [abstract]
Net loss before income tax	$ (293,445)	$ (15,595)	$ (6,811)
Income tax benefit calculated at 30% (25% - 2022 & 2023)	(88,030)	(3,899)	(1,703)
Add: Commercial debt forgiveness gain	4,615	0	0
Less: Use of previously unrecognised tax now recouped to reduce current tax expense	(3,877)	0	0
Less: Use of Blackhole expenditure reserve to reduce current tax expense	(738)	0	0
Add: Non-deductible expenses	82,134	1,401	60
Add: Tax losses not recognised	5,240	1,907	781
Add: Accounting expenditure subject to R&D	655	374	432
Less: R&D tax recovery	0	(163)	(188)
Income tax benefit	$ 0	$ (378)	$ (618)
Applicable tax rate	30%	25%	25%

Income Tax Benefit - Narrative

Income Tax Benefit - Narrative (Details)	12 Months Ended
Income Tax Benefit - Narrative (Details)	Jun. 30, 2024 USD ($) subsidiary	Jun. 30, 2023 USD ($)	Jun. 30, 2022
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Applicable tax rate	30%	25%	25%
Unused tax losses for which no deferred tax asset recognised	$ 12,210,000	$ 12,550,000
Unused tax losses for which no deferred tax asset recognised, tax effected amount	3,660,000
Unused tax credits for which no deferred tax asset recognised	850,000	0
Unused expenditure reserve for which no deferred tax asset recognised	2,280,000	900,000
Unused expenditure reserve for which no deferred tax asset recognised, tax effected amount	680,000
Tax effected investment for which no deferred tax asset recognised	330,000	0
Tax effected interest expense for which no deferred tax asset recognised	810,000	$ 0
Net forgiven amount upon consummation of capital reorganisation	$ 15,600,000
AUSTRALIA
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Number of subsidiaries \| subsidiary	9

Income Tax Benefit - Current an

Income Tax Benefit - Current and deferred tax liabilities/assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Income taxes paid (refund) [abstract]
Current tax assets	$ 0	$ 638
Deferred tax assets	1,675	419
Deferred tax liabilities	(1,675)	(419)
Net deferred tax (liability)/asset	$ 0	$ 0

Income Tax Benefit - Deferred t

Income Tax Benefit - Deferred tax balance movement (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets, beginning balance	$ 419
Deferred tax assets, ending balance	1,675	$ 419
Deferred tax liabilities, beginning balance	(419)
Deferred tax liabilities, ending balance	(1,675)	(419)
Deferred Tax Asset
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets, beginning balance	419	618
(Charged)/ credited to profit or loss*	1,253	(176)
Movement in equity	0	0
Exchange differences (charged)/credited to comprehensive loss	3	(23)
Deferred tax assets, ending balance	1,675	419
Deferred Tax Liability
Reconciliation of changes in deferred tax liability (asset) [abstract]
(Charged)/ credited to profit or loss*	(1,239)	554
Movement in equity	0	378
Exchange differences (charged)/credited to comprehensive loss	(16)	23
Deferred tax liabilities, beginning balance	(419)	(618)
Deferred tax liabilities, ending balance	(1,675)	(419)
Derivative financial instruments \| Deferred Tax Asset
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets, beginning balance	0	8
(Charged)/ credited to profit or loss*	169	(8)
Movement in equity	0	0
Exchange differences (charged)/credited to comprehensive loss	0	0
Deferred tax assets, ending balance	169	0
Deferred income \| Deferred Tax Asset
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets, beginning balance	1	26
(Charged)/ credited to profit or loss*		(24)
Movement in equity		0
Exchange differences (charged)/credited to comprehensive loss		(1)
Deferred tax assets, ending balance		1
Contract liabilities \| Deferred Tax Asset
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets, beginning balance	1
(Charged)/ credited to profit or loss*	(1)
Movement in equity	0
Exchange differences (charged)/credited to comprehensive loss	0
Deferred tax assets, ending balance	0	1
Lease liabilities \| Deferred Tax Asset
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets, beginning balance	13	23
(Charged)/ credited to profit or loss*	117	(9)
Movement in equity	0	0
Exchange differences (charged)/credited to comprehensive loss	0	(1)
Deferred tax assets, ending balance	130	13
Share of loss of equity-accounted investee \| Deferred Tax Asset
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets, beginning balance	15	2
(Charged)/ credited to profit or loss*	(15)	13
Movement in equity	0	0
Exchange differences (charged)/credited to comprehensive loss	0	0
Deferred tax assets, ending balance	0	15
Unused tax losses carryforwards \| Deferred Tax Asset
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets, beginning balance	390	466
(Charged)/ credited to profit or loss*	(390)	(58)
Movement in equity	0	0
Exchange differences (charged)/credited to comprehensive loss	0	(18)
Deferred tax assets, ending balance	0	390
Provisions and accruals \| Deferred Tax Asset
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets, beginning balance	0	93
(Charged)/ credited to profit or loss*	400	(90)
Movement in equity	0	0
Exchange differences (charged)/credited to comprehensive loss	2	(3)
Deferred tax assets, ending balance	402	0
Patent expenditure \| Deferred Tax Asset
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets, beginning balance	0
(Charged)/ credited to profit or loss*	88
Movement in equity	0
Exchange differences (charged)/credited to comprehensive loss	1
Deferred tax assets, ending balance	89	0
Blackhole expenditure \| Deferred Tax Asset
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets, beginning balance	0
(Charged)/ credited to profit or loss*	884
Movement in equity	0
Exchange differences (charged)/credited to comprehensive loss	0
Deferred tax assets, ending balance	884	0
Borrowings and other financial liabilities \| Deferred Tax Liability
Reconciliation of changes in deferred tax liability (asset) [abstract]
(Charged)/ credited to profit or loss*	(1,137)	551
Movement in equity	0	378
Exchange differences (charged)/credited to comprehensive loss	(16)	22
Deferred tax liabilities, beginning balance	(390)	(585)
Deferred tax liabilities, ending balance	(1,543)	(390)
Property, plant and equipment \| Deferred Tax Liability
Reconciliation of changes in deferred tax liability (asset) [abstract]
(Charged)/ credited to profit or loss*	3	(3)
Movement in equity	0	0
Exchange differences (charged)/credited to comprehensive loss	1	0
Deferred tax liabilities, beginning balance	(8)	(5)
Deferred tax liabilities, ending balance	(5)	(8)
Unrealised foreign exchange gain \| Deferred Tax Liability
Reconciliation of changes in deferred tax liability (asset) [abstract]
(Charged)/ credited to profit or loss*	(13)
Movement in equity	0
Exchange differences (charged)/credited to comprehensive loss	0
Deferred tax liabilities, beginning balance	0
Deferred tax liabilities, ending balance	(13)	0
Right of use asset \| Deferred Tax Liability
Reconciliation of changes in deferred tax liability (asset) [abstract]
(Charged)/ credited to profit or loss*	(103)	10
Movement in equity	0	0
Exchange differences (charged)/credited to comprehensive loss	(1)	0
Deferred tax liabilities, beginning balance	(10)	(20)
Deferred tax liabilities, ending balance	(114)	(10)
Prepaid expenses \| Deferred Tax Liability
Reconciliation of changes in deferred tax liability (asset) [abstract]
(Charged)/ credited to profit or loss*	11	(4)
Movement in equity	0	0
Exchange differences (charged)/credited to comprehensive loss	0	1
Deferred tax liabilities, beginning balance	(11)	(8)
Deferred tax liabilities, ending balance	$ 0	$ (11)

Loss per share (Details)

Loss per share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Basic loss per share
Basic loss per share (in usd per share)	$ (17.50)	$ (7.08)	$ (2.88)
Diluted loss per share
Diluted loss per share (in usd per share)	$ (17.50)	$ (7.08)	$ (2.88)
Reconciliations of loss used in calculating loss per share
Net loss	$ (293,445)	$ (15,217)	$ (6,193)
Weighted average number of shares used as the denominator (in thousands)
Weighted average number of common shares outstanding, basic (in shares)	16,764,000	2,149,000	2,149,000
Weighted average number of common shares outstanding, diluted (in shares)	16,764,000	2,149,000	2,149,000
Ordinary shares converted (in shares)		29,973,504	29,973,504
Ordinary shares, after conversion (in shares)		2,148,847	2,148,847

Prepaid Expenses (Details)

Prepaid Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Subclassifications of assets, liabilities and equities [abstract]
Prepaid insurance	$ 1,841	$ 29
Other prepaid expenses	46	15
Total prepaid expenses	$ 1,887	$ 44

Trade and other receivables (De

Trade and other receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Subclassifications of assets, liabilities and equities [abstract]
Trade receivables	$ 831	$ 4
Goods and Service Tax receivable	8	204
Other receivables	0	106
Trade and other receivables	$ 839	$ 314
Average credit period	30 days

Contract Liabilities (Details)

Contract Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Contract liabilities [abstract]
Unearned revenue	$ 0	$ 2

Trade and Other Payables (Detai

Trade and Other Payables (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Subclassifications of assets, liabilities and equities [abstract]
Trade payables	$ 1,184	$ 1,264
Accrued expenses	3,749	4,280
Other payables	225	78
Total trade and other payables	$ 5,157	$ 5,622

Warrants Liability (Details)

Warrants Liability (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Warrant Liabilities [Line Items]
Warrants liability	$ 3,670	$ 0
Shares issuable upon exercise of warrants (in shares)	27,529,987
Ordinary shares eligible for purchase upon exercise of warrants (in shares)	1
Exercise price (in dollars per share)	$ 11.50
Warrants, maturity term	5 years
Warrants sold, transferred, or exercised, threshold period	30 days
Threshold trading days	20 days
Threshold consecutive trading days	30 days
Warrants, redemption price (in dollars per share)	$ 0.01
Warrants, threshold price (in dollars per share)	18
Private and public warrants, fair value, quoted price (in dollars per share)	$ 0.13
Public Warrants
Warrant Liabilities [Line Items]
Shares issuable upon exercise of warrants (in shares)	13,799,987
Warrants outstanding (in shares)	13,799,987
Private Warrants
Warrant Liabilities [Line Items]
Shares issuable upon exercise of warrants (in shares)	13,730,000
Warrants outstanding (in shares)	13,730,000

Borrowings and other financia_3

Borrowings and other financial liabilities - Current and non-current borrowings (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jan. 12, 2024	Jun. 30, 2023
Disclosure of detailed information about borrowings [line items]
Current borrowings	$ 0		$ 19,812
Non-current borrowings	12,821		7,134
Convertible Notes - AgCentral Energy
Disclosure of detailed information about borrowings [line items]
Current borrowings	0		14,281
Non-current borrowings	0		0
Senior Convertible Notes - AgCentral Energy and Nabors Lux
Disclosure of detailed information about borrowings [line items]
Current borrowings	0		0
Non-current borrowings	0		7,134
Shareholders Loan - AgCentral Energy
Disclosure of detailed information about borrowings [line items]
Current borrowings	0		5,531
Non-current borrowings	0		0
Promissory Note - EDF
Disclosure of detailed information about borrowings [line items]
Current borrowings	0		0
Non-current borrowings	5,869		0
Backstop Agreement - Nabors
Disclosure of detailed information about borrowings [line items]
Current borrowings	0		0
Non-current borrowings	$ 6,953	$ 7,000	$ 0

Borrowings and other financia_4

Borrowings and other financial liabilities - Promissory note narrative (Details)		12 Months Ended
	Dec. 19, 2023 USD ($) $ / shares	Jun. 30, 2024 USD ($) $ / shares	Dec. 19, 2023 EUR (€)	Jun. 30, 2023 USD ($)	Jun. 30, 2022
Disclosure of detailed information about borrowings [line items]
Year-end exchange rate (in dollars per share)		0.6620		0.6630	0.6889
Embedded derivative		$ 561,000		$ 174,000
Promissory Note - EDF
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 10,831,953	5,400,000	€ 10,000,000
Borrowings, interest rate	3%		3%
Borrowings term	5 years
Borrowings extension period, written notice	2 years
Borrowings term, if extended	7 years
Year-end exchange rate (in dollars per share) \| $ / shares	10.20
Partial exchange, minimum amount	$ 2,000,000
Exchange, conditional amount invested	$ 20,000,000
Total equity contribution	75%		75%
Embedded derivative	$ 5,500,000	$ 561,000		$ 0
Closing share price (in dollars per share) \| $ / shares	$ 11.99	$ 2.28
Fair value changes recognised as unrealised gain in profit or loss		$ 4,900,000
Promissory Note - EDF \| Average Effective Interest Rate
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		17.47%

Borrowings and other financia_5

Borrowings and other financial liabilities - Embedded derivative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 19, 2023	Jun. 30, 2023
Disclosure of detailed information about borrowings [line items]
Embedded derivative	$ 561		$ 174
Promissory Note - EDF
Disclosure of detailed information about borrowings [line items]
Embedded derivative	$ 561	$ 5,500	$ 0

Borrowings and other financia_6

Borrowings and other financial liabilities - Interest expense associated with effective interest rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Promissory Note - EDF
Disclosure of detailed information about borrowings [line items]
Interest expense by applying effective interest rate	$ 522	$ 0

Borrowings and other financia_7

Borrowings and other financial liabilities - Nabors Backstop Agreement (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 09, 2024	Jun. 30, 2024	Dec. 07, 2023	Oct. 19, 2023
Disclosure of detailed information about borrowings [line items]
Purchase price per share (in dollars per share)		$ 10.20		$ 10.20
Number of ordinary shares issued (in shares)	681,620
Backstop Agreement - Nabors
Disclosure of detailed information about borrowings [line items]
Commitment to purchase ordinary shares				$ 15
Proceeds from issue of ordinary shares	$ 7
Backstop Agreement Amendment - Nabors
Disclosure of detailed information about borrowings [line items]
Commitment to purchase ordinary shares			$ 10

Borrowings and other financia_8

Borrowings and other financial liabilities - Convertible notes (Details) - Jun. 30, 2024 $ in Thousands	USD ($) note $ / aUDPerNote	AUD ($) note $ / aUDPerNote
Convertible Notes - AgCentral and Nabors Lux
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 25,351,000	$ 36,800
Convertible Note 3
Disclosure of detailed information about borrowings [line items]
Face value per note \| $ / aUDPerNote	349.34	349.34
Borrowings	$ 6,890,000	$ 9,863
Convertible Note 3 \| Tranche 1
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	26,802	26,802
Borrowings	$ 6,548,000	$ 9,363
Convertible Note 3 \| Tranche 2
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	715	715
Borrowings	$ 172,000	$ 250
Convertible Note 3 \| Tranche 3
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	715	715
Borrowings	$ 170,000	$ 250
Convertible Note 4
Disclosure of detailed information about borrowings [line items]
Face value per note \| $ / aUDPerNote	17.68	17.68
Borrowings	$ 4,651,000	$ 6,357
Convertible Note 4 \| Tranche 1
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	62,216	62,216
Borrowings	$ 876,000	$ 1,100
Convertible Note 4 \| Tranche 2
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	5,656	5,656
Borrowings	$ 81,000	$ 100
Convertible Note 4 \| Tranche 3
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	11,312	11,312
Borrowings	$ 158,000	$ 200
Convertible Note 4 \| Tranche 4
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	8,484	8,484
Borrowings	$ 118,000	$ 150
Convertible Note 4 \| Tranche 5
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	25,452	25,452
Borrowings	$ 347,000	$ 450
Convertible Note 4 \| Tranche 6
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	11,313	11,313
Borrowings	$ 151,000	$ 200
Convertible Note 4 \| Tranche 7
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	11,313	11,313
Borrowings	$ 152,000	$ 200
Convertible Note 4 \| Tranche 8
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	47,511	47,511
Borrowings	$ 640,000	$ 840
Convertible Note 4 \| Tranche 9
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	105,602	105,602
Borrowings	$ 1,280,000	$ 1,867
Convertible Note 4 \| Tranche 10
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	70,701	70,701
Borrowings	$ 848,000	$ 1,250
Convertible Note 5
Disclosure of detailed information about borrowings [line items]
Face value per note \| $ / aUDPerNote	0.01	0.01
Borrowings	$ 1,310,000	$ 1,750
Convertible Note 5 \| Tranche 1
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	87,500,000	87,500,000
Borrowings	$ 628,000	$ 875
Convertible Note 5 \| Tranche 2
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	87,500,000	87,500,000
Borrowings	$ 682,000	$ 875
Senior Convertible Note
Disclosure of detailed information about borrowings [line items]
Face value per note \| $	1
Borrowings	$ 12,500,000	$ 18,830
Senior Convertible Note \| Tranche 1
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	2,500,000	2,500,000
Borrowings	$ 2,500,000	$ 3,604
Senior Convertible Note \| Tranche 2
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	2,500,000	2,500,000
Borrowings	$ 2,500,000	$ 3,731
Senior Convertible Note \| Tranche 3
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	2,500,000	2,500,000
Borrowings	$ 2,500,000	$ 3,725
Senior Convertible Note \| Tranche 4
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	2,500,000	2,500,000
Borrowings	$ 2,500,000	$ 3,839
Senior Convertible Note \| Tranche 5
Disclosure of detailed information about borrowings [line items]
Number of convertible notes issued	2,500,000	2,500,000
Borrowings	$ 2,500,000	$ 3,931

Borrowings and other financia_9

Borrowings and other financial liabilities - Convertible notes narrative (Details) - $ / shares	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Convertible Notes - AgCentral and Nabors Lux \| Average Effective Interest Rate
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	22.63%	24.31%
Convertible Notes 3, 4, and 5
Disclosure of detailed information about borrowings [line items]
Ordinary shares eligible for conversion per note (in shares)	1
Borrowings interest payable, term	12 months
Interest payment settlement period by Vast, within period	18 months
Interest payment settlement period by Noteholder, after period	18 months
Convertible Notes 3, 4, and 5 \| Coupon Interest Rate
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	8%
Senior Convertible Note
Disclosure of detailed information about borrowings [line items]
Borrowings interest payable, term	6 months
Conversion price discount rate	25%
Conversion price (in dollars per share)	$ 10.20
Borrowings term	18 months
Senior Convertible Note \| Senior Notes Interest Rate
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	4%

Borrowings and other financi_10

Borrowings and other financial liabilities - Embedded derivatives as convertible notes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Disclosure of detailed information about borrowings [line items]
Embedded derivative	$ 561	$ 174
Convertible Notes - AgCentral and Nabors Lux
Disclosure of detailed information about borrowings [line items]
Embedded derivative	0	192
Interest expense by applying effective interest rate	1,304	2,166
Convertible Note 3
Disclosure of detailed information about borrowings [line items]
Embedded derivative	0	0
Interest expense by applying effective interest rate	431	950
Convertible Note 4
Disclosure of detailed information about borrowings [line items]
Embedded derivative	0	0
Interest expense by applying effective interest rate	506	995
Convertible Note 5
Disclosure of detailed information about borrowings [line items]
Embedded derivative	0	18
Interest expense by applying effective interest rate	58	127
Senior Convertible Note
Disclosure of detailed information about borrowings [line items]
Embedded derivative	0	174
Interest expense by applying effective interest rate	$ 309	$ 94

Borrowings and other financi_11

Borrowings and other financial liabilities - Loan from shareholder - AgCentral (Details) - Shareholder Loan - AgCentral Energy $ in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 AUD ($)
Disclosure of detailed information about borrowings [line items]
Borrowings		$ 5,700		$ 8,600
Interest expense by applying effective interest rate	$ 159	$ 295	$ 17
Average Effective Interest Rate
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	5.90%	6.47%		6.47%

Interest in other entities - Su

Interest in other entities - Subsidiaries (Details) - subsidiary	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Australia and United States
Disclosure of subsidiaries [line items]
Number of subsidiaries	14
Nabors Transition Energy Corp
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%	0%
Neptune Merger Sub, Inc.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	0%	100%
NWQHPP Pty Ltd
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%	100%
Solar Methanol 1 Pty Ltd
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%	100%
Vast Solar Aurora Pty Ltd
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%	100%
Vast Solar 1 Pty Ltd
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%	100%
Vast Solar Consulting Pty Ltd
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%	100%
Vast Employee Shareholdings Pty Ltd
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%	0%
Vast Intermediate HoldCo Pty Ltd
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%	0%
Vast Australia HoldCo Pty Ltd
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%	0%
HyFuel Solar Refinery Pty Ltd
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%	0%
Vast Renewables HoldCo Corp
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%	0%
Vast Renewables Management Services LLC
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%	0%
Vast US Projects HoldCo Corp
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%	0%
El Paso ProjectCo LLC
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%	0%

Interest in other entities - Jo

Interest in other entities - Joint arrangements (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Aug. 31, 2025
Disclosure of joint operations [line items]
Expenses, by nature	$ 293,787	$ 16,514	$ 8,728
Company's share	670	0
Total expense incurred by Vast	$ 0	0
Reimbursement Receivable
Disclosure of joint operations [line items]
Net reimbursement to be received from joint operator				$ 700
EDF Australia
Disclosure of joint operations [line items]
Proportion of ownership interest in joint operation	50%
Expenses, by nature	$ 1,340	0
Net reimbursement to be received from joint operator	670	0
Reimbursements received	$ 0	$ 0

Interest in other entities - _2

Interest in other entities - Joint venture narrative (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Jun. 15, 2022	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Jan. 31, 2025	Jul. 31, 2022
Disclosure of joint ventures [line items]
Share in loss of jointly controlled entities			$ 206	$ 254	$ 10
Investment in joint venture accounted for using the equity method			1,065	$ 1,300
SiliconAurora
Disclosure of joint ventures [line items]
Proportion of ownership interest in joint venture	50%	50%
Initial investment in SiliconAurora Pty Ltd	$ 70		69
Deferred consideration	$ 1,580		1,578				$ 620
Share in loss of jointly controlled entities			200
Investment in joint venture accounted for using the equity method			1,703
Non-current payables to related parties			$ 460
Interest-free shareholder loan, term			3 years
SiliconAurora \| Deferred Consideration Payable
Disclosure of joint ventures [line items]
Deferred consideration						$ 960

Interest in other entities - _3

Interest in other entities - Joint venture (Details) - USD ($) $ in Thousands		12 Months Ended
	Jun. 15, 2022	Jun. 30, 2024	Jun. 30, 2023	Jul. 31, 2022
Disclosure of joint ventures [line items]
Total consideration		$ 1,065	$ 1,300
Commitment to provide funding for joint venture’s commitments, if called		456	$ 278
SiliconAurora
Disclosure of joint ventures [line items]
Initial investment in SiliconAurora Pty Ltd	$ 70	69
Transaction costs		56
Deferred consideration	$ 1,580	1,578		$ 620
Total consideration		1,703
Call option issued to shareholder		96
50% interest in SiliconAurora Pty Ltd		1,607
Carrying value of interest in joint venture at June 30, 2024		$ 1,065

Property, plant and equipment_2

Property, plant and equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	$ 30
Property, plant and equipment at end of period	62	$ 30
Office equipment \| Gross carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	63	38
Additions	53	27
Disposals	(7)	0
Exchange differences	3	(2)
Property, plant and equipment at end of period	112	63
Office equipment \| Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(33)	(19)
Disposals	6	0
Exchange differences	0	1
Depreciation expense	(23)	(15)
Property, plant and equipment at end of period	$ (50)	$ (33)

Right-of-use assets - Net carry

Right-of-use assets - Net carrying amount (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use-assets	$ 379	$ 45
Office Building
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use-assets	368	0
Land
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use-assets	$ 11	$ 45

Right-of-use assets - Movements

Right-of-use assets - Movements in carrying amount (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Reconciliation of changes in right-of-use assets [abstract]
Right-of-use assets at beginning of period	$ 45
Depreciation expense	(63)	$ (34)
Right-of-use assets at end of period	379	45
Amounts recognised in profit and loss:
Depreciation expense on right-of-use asset	(63)	(34)
Interest expense on lease liabilities	(23)	(6)
Office Building and Land \| Gross carrying amount
Reconciliation of changes in right-of-use assets [abstract]
Right-of-use assets at beginning of period	146	152
Additions during the year	394	0
Exchange differences	(8)	(6)
Right-of-use assets at end of period	532	146
Office Building and Land \| Accumulated depreciation
Reconciliation of changes in right-of-use assets [abstract]
Right-of-use assets at beginning of period	(101)	(71)
Exchange differences	11	4
Depreciation expense	(63)	(34)
Right-of-use assets at end of period	(153)	(101)
Amounts recognised in profit and loss:
Depreciation expense on right-of-use asset	$ (63)	$ (34)

Lease Liabilities - Components

Lease Liabilities - Components of Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Current
Lease liabilities	$ 134	$ 26
Non-current
Lease liabilities	299	28
Total Lease Liability	$ 433	$ 54

Lease Liabilities - Future Mini

Lease Liabilities - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Disclosure of Maturity Analysis of Lease Liabilities Payable [Line Items]
Total future minimum lease payments	$ 433	$ 54
Office Building and Land
Disclosure of Maturity Analysis of Lease Liabilities Payable [Line Items]
Total future minimum lease payments	578	57
Office Building and Land \| Within one year
Disclosure of Maturity Analysis of Lease Liabilities Payable [Line Items]
Total future minimum lease payments	111	43
Office Building and Land \| Later than one year but not later than 5 years
Disclosure of Maturity Analysis of Lease Liabilities Payable [Line Items]
Total future minimum lease payments	$ 467	$ 14

Provisions - Current and Noncur

Provisions - Current and Noncurrent (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Current:
Provisions	$ 314	$ 183
Non-current:
Provisions	156	117
Total Provisions	$ 470	$ 300	$ 234

Provisions - Movement in Provis

Provisions - Movement in Provisions (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Reconciliation of changes in provisions [Abstract]
Provisions for employee benefits, opening balance	$ 300	$ 234
Additions	355	247
Utilisations	(214)	(171)
Exchange differences	29	(10)
Provisions for employee benefits, closing balance	$ 470	$ 300

Issued Capital - Ordinary share

Issued Capital - Ordinary shares (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2024
Disclosure of classes of share capital [line items]
Issued capital	$ 2,354	$ 297,618
Ordinary shares to be converted (in shares)	25,129,140
Ordinary shares after conversion and capital reorganisation (in shares)	2,149,294
Fully Paid Ordinary Shares
Disclosure of classes of share capital [line items]
Number of shares issued and fully paid		25,129,140
Issued capital	$ 2,354	$ 0
Fully Paid Ordinary Shares, Following Capital Reorganisation
Disclosure of classes of share capital [line items]
Number of shares issued and fully paid		29,973,504
Issued capital	$ 0	$ 297,618

Issued Capital - Movement in is

Issued Capital - Movement in issued capital (Details) - USD ($)		12 Months Ended
	Mar. 30, 2021	Jun. 30, 2024	Jun. 30, 2023	Dec. 18, 2023
Disclosure of classes of share capital [line items]
Issuance of shares to employees (in shares)		2,301,433
Conversion of debt to equity (in shares)		15,956,925
Shares issued to acquire NETC (in shares)		5,654,616
PIPE funding (in shares)		1,715,686
Shares issued as settlement of transaction expenses (in shares)		171,569
Transaction costs accounted for as a deduction from equity (in shares)		0
Movement in Issued capital (in shares)		25,800,229
Issuance of shares to employees		$ 638,000
Conversion of debt to equity		208,800,000
Shares issued to acquire NETC		67,799,000
PIPE funding		17,506,000
Shares issued as settlement of transaction expenses		2,057,000
Transaction cost accounted for as a deduction from equity		(1,536,000)
Movement in Issued capital		$ 295,264,000
Number of shares issued through reorganisation (in shares)		21,137,033
Treasury shares, carrying value		$ 0
Ordinary shares issued (in shares)		5,655,000
Ordinary shares after conversion and capital reorganisation (in shares)			2,149,294
Incremental funding commitment fee		$ 2,500,000
Accelerated Earnback Shares
Disclosure of classes of share capital [line items]
Ordinary shares issued (in shares)		1,500,000
NETC Class F Common Stock
Disclosure of classes of share capital [line items]
Ordinary shares issued (in shares)		3,000,000
Issued to MEP Shareholders \| MEP Shareholders
Disclosure of classes of share capital [line items]
Number of shares issued through reorganisation (in shares)		2,036,900
Issued to VAST Employees \| Vast Employees
Disclosure of classes of share capital [line items]
Number of shares issued through reorganisation (in shares)		264,533		264,533
Issued to AgCentral Energy Pty Ltd \| AgCentral Energy Pty Ltd
Disclosure of classes of share capital [line items]
Number of shares issued through reorganisation (in shares)		18,198,566
Legacy VAST Shares
Disclosure of classes of share capital [line items]
Conversion of debt to equity (in shares)		25,129,140
Conversion price (in dollars per share)		$ 0.09
Ordinary shares issued (in shares)		1,500,000
Senior Convertible Notes - AgCentral Energy and Nabors Lux
Disclosure of classes of share capital [line items]
Conversion of debt to equity (in shares)		1,250,014
Ordinary Shares Converted from NETC Class A Common Stock
Disclosure of classes of share capital [line items]
Shares issued to acquire NETC (in shares)		804,616
NETC Class A Common Stock
Disclosure of classes of share capital [line items]
Shares issued to acquire NETC (in shares)		633,250
Ordinary Shares Converted from Founder Shares
Disclosure of classes of share capital [line items]
Ordinary shares after conversion and capital reorganisation (in shares)		129,911
Class F Common Stock
Disclosure of classes of share capital [line items]
Shares issued to acquire NETC (in shares)	8,625,000
Proceeds from issue of ordinary shares	$ 25,000
Par value per share (in dollars per share)	$ 0.0001
Nabors Lux
Disclosure of classes of share capital [line items]
Shares issued to acquire NETC (in shares)		350,000
Issued to AgCentral and Nabors Lux
Disclosure of classes of share capital [line items]
PIPE funding (in shares)		1,715,686
Issued to Guggenheim Securities
Disclosure of classes of share capital [line items]
Shares issued as settlement of transaction expenses (in shares)		171,569
Earnback Shares
Disclosure of classes of share capital [line items]
Shares issued to acquire NETC (in shares)		2,400,000

Reserves - Schedule of Reserves

Reserves - Schedule of Reserves (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Disclosure of reserves within equity [abstract]
Share-based payment reserve	$ 24,294	$ 4	$ 4
Capital contribution reserve	0	4,591	3,452
Foreign currency translation reserve	2,883	3,285	$ 2,394
Closing Balance	$ 27,176	$ 7,880

Reserves - Schedule of Movement

Reserves - Schedule of Movement in Share-Based Payment Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Disclosure of reserves within equity [abstract]
As of July 1	$ 4	$ 4
Add: Fair value of earnout for NETC Sponsor issuable to Nabors Lux	22,576	0
Add: Share based payment expense for the period from December 18, 2023 to June 30, 2024	1,676	0
Foreign exchange differences	38	0
As of June 30	$ 24,294	$ 4

Reserves - Earnout for NETC Spo

Reserves - Earnout for NETC Sponsor (Details)	12 Months Ended
Reserves - Earnout for NETC Sponsor (Details)	Jun. 30, 2024 $ / shares shares	Jun. 30, 2024 AUD ($) shares	Dec. 18, 2023 $ / shares
Disclosure of reserves within equity [line items]
Threshold trading days		20 days
Threshold consecutive trading days		30 days
Underlying asset value, minimum \| $		$ 1,000,000
Underlying asset value, maximum \| $		$ 4,000,000
Ordinary share, fair value (in dollars per share) \| $ / shares			$ 11.99
Minimum
Disclosure of reserves within equity [line items]
Earnout period		70 days
Maximum
Disclosure of reserves within equity [line items]
Earnout period		5 years
NETC
Disclosure of reserves within equity [line items]
Ordinary shares, contingently issuable (in shares)	2,400,000	2,400,000
Discount rate
Disclosure of reserves within equity [line items]
Measurement inputs		25%
Term-matched risk free rate
Disclosure of reserves within equity [line items]
Measurement inputs		3.90%
1
Disclosure of reserves within equity [line items]
Ordinary shares, contingently issuable (in shares)	800,000	800,000
Volume-weighted average closing sale price (in dollars per share) \| $ / shares	$ 12.50
2
Disclosure of reserves within equity [line items]
Ordinary shares, contingently issuable (in shares)	800,000	800,000
Volume-weighted average closing sale price (in dollars per share) \| $ / shares	$ 15
3
Disclosure of reserves within equity [line items]
Ordinary shares, contingently issuable (in shares)	800,000	800,000
Volume-weighted average closing sale price (in dollars per share) \| $ / shares	$ 17.50
4 \| NETC
Disclosure of reserves within equity [line items]
Ordinary shares, contingently issuable (in shares)	2,799,999	2,799,999

Reserves - MEP Shares (Details)

Reserves - MEP Shares (Details)	12 Months Ended
Reserves - MEP Shares (Details)	Jun. 30, 2024 USD ($) shares	Jun. 30, 2021 AUD ($) shares	Dec. 18, 2023 $ / shares shares	Jun. 30, 2021 USD ($)	Jun. 30, 2021 AUD ($)
Disclosure of reserves within equity [line items]
Number of shares issued through reorganisation (in shares) \| shares	21,137,033
Ordinary shares per MEP, conversion rate (in shares) \| shares	26,453
Additional ordinary shares per MEP, (in shares) \| shares	10,581
Share-based payment transaction, additional value expensed	$ 600,000
Treasury shares, carrying value	$ 0
Ordinary share, fair value (in dollars per share) \| $ / shares			$ 11.99
Disposal restriction period	12 months
Expense from share-based payment transactions	$ 1,700,000
Issued to MEP Shareholders \| MEP Shareholders
Disclosure of reserves within equity [line items]
Number of shares issued through reorganisation (in shares) \| shares	2,036,900
Management Equity Plan
Disclosure of reserves within equity [line items]
Plan pool limit (in shares)				$ 100
Number of shares issued during the period (in shares) \| shares	75	80
Fair value of shares issued during the period (in dollars per share)					$ 70
Cash paid by employees and contractors (in dollars per share)					$ 10
Number of shares cancelled following the consummation of the capital reorganisation (in shares) \| shares			5
MEP shares qualifying for additional ordinary shares (in shares) \| shares	5
Management Equity Plan \| Maximum
Disclosure of reserves within equity [line items]
Management's percentage share of exit proceeds				0.25	0.25
Sale price		$ 10,000,000
Management Equity Plan \| Minimum
Disclosure of reserves within equity [line items]
Management's percentage share of exit proceeds				0.3333	0.3333
Sale price		$ 10,000,000

Reserves - Schedule of Moveme_2

Reserves - Schedule of Movement in Foreign Currency Translation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Disclosure of reserves within equity [abstract]
As of July 1	$ 3,285	$ 2,394
Movement during the year	(402)	891
As of June 30	$ 2,883	$ 3,285

Reserves - Schedule of Moveme_3

Reserves - Schedule of Movement in Capital Contribution Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Disclosure of reserves within equity [abstract]
As of July 1	$ 4,591	$ 3,452
Interest forgiveness on convertible notes and shareholder loan	0	1,517
Derecognition upon consummation of the Capital Reorganization	(4,591)	0
Deferred tax impact	0	(378)
As of June 30	$ 0	$ 4,591

Accumulated losses_Retained E_3

Accumulated losses/Retained Earnings (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Reconciliation of changes in accumulated losses and retained earnings [Abstract]
As of July 1	$ (39,649)	$ (24,432)	$ (18,239)
Loss for the year	(293,445)	(15,217)	(6,193)
As of June 30	$ (333,094)	$ (39,649)	$ (24,432)

Financial Instruments - Fair _3

Financial Instruments - Fair Value and Financial Risk management - Schedule of Financial Liabilities (Details)	12 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 18, 2023	Jun. 30, 2022 USD ($)
Risk free rate
Disclosure of fair value measurement of liabilities [line items]
Significant unobservable input, liabilities	0.0448
Percentage of reasonably possible increase in unobservable input, liabilities	10%	10%
Increase in fair value of derivative financial instrument due to a 10% increase in volatility assumption	$ 0	$ 0
Risk free rate \| Convertible Notes 3, 4, and 5
Disclosure of fair value measurement of liabilities [line items]
Significant unobservable input, liabilities			0.0563
Risk free rate \| Senior Convertible Note
Disclosure of fair value measurement of liabilities [line items]
Significant unobservable input, liabilities			0.0515
Risk free rate \| Black-Scholes Formula
Disclosure of fair value measurement of liabilities [line items]
Significant unobservable input, liabilities	0.0448
Volatility
Disclosure of fair value measurement of liabilities [line items]
Significant unobservable input, liabilities	0.70
Percentage of reasonably possible increase in unobservable input, liabilities	10%	10%
Increase in fair value of derivative financial instrument due to a 10% increase in volatility assumption	$ 200,000	$ 200,000
Volatility \| Black-Scholes Formula
Disclosure of fair value measurement of liabilities [line items]
Significant unobservable input, liabilities	0.70		0.40
Financial liabilities at amortised cost, category \| Level 3
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	$ 561,000			$ 192,000
Financial liabilities at amortised cost, category \| Warrants \| Level 1
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	3,670,000	0
Financial liabilities at amortised cost, category \| NETC Earnouts \| Level 3
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	6,953,000	0
Financial liabilities at amortised cost, category \| Derivative Liabilities, Promissory Note \| Level 3
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	561,000	0
Financial liabilities at amortised cost, category \| Derivative Liabilities, Convertible Notes and Senior Convertible Notes \| Level 3
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	$ 0	$ 192,000

Financial Instruments - Fair _4

Financial Instruments - Fair Value and Financial Risk management - Reconciliation of Level 3 Fair Values (Details) - Level 3 $ in Thousands	12 Months Ended
	Jun. 30, 2024 USD ($)
Disclosure of fair value measurement of liabilities [line items]
Opening balance as of July 1, 2023	$ 32
Fair value changes recognised as unrealised gain in profit or loss	(5)
Closing balance as of June 30, 2024	27
Derivative Liabilities, Promissory Note
Disclosure of fair value measurement of liabilities [line items]
Additions	5,616
Fair value changes recognised in profit or loss	(4,925)
Derivative Liabilities, Convertible Notes and Senior Convertible Notes
Disclosure of fair value measurement of liabilities [line items]
Conversion to Issued Capital upon consummation of the Capital Reorganisation - Embedded derivatives associated with Convertible Notes 3,4 and 5 and Senior Convertible Notes	(170,986)
Derivative Liabilities, Senior Convertible Notes
Disclosure of fair value measurement of liabilities [line items]
Additions	288
Fair value changes recognised in profit or loss	2,334
Derivative Liabilities, Convertible Notes
Disclosure of fair value measurement of liabilities [line items]
Fair value changes recognised in profit or loss	168,042
Financial liabilities at amortised cost, category
Disclosure of fair value measurement of liabilities [line items]
Closing balance as of June 30, 2024	561
Financial liabilities at amortised cost, category \| Derivative Liabilities, Promissory Note
Disclosure of fair value measurement of liabilities [line items]
Opening balance as of July 1, 2023	0
Closing balance as of June 30, 2024	561
Financial liabilities at amortised cost, category \| Derivative Liabilities, Convertible Notes and Senior Convertible Notes
Disclosure of fair value measurement of liabilities [line items]
Opening balance as of July 1, 2023	192
Closing balance as of June 30, 2024	$ 0

Financial Instruments - Fair _5

Financial Instruments - Fair Value and Financial Risk management - Disclosure of Exposure to Foreign Currency Risk (Details) € in Thousands, $ in Thousands	Jun. 30, 2024 EUR (€)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 EUR (€)	Jun. 30, 2023 USD ($)
Currency risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Trade payables	€ 94	$ 62	€ 17	$ 66

Financial Instruments - Fair _6

Financial Instruments - Fair Value and Financial Risk management - Disclosure of Amounts Recognized in Profit or Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Fair Value Disclosure [Abstract]
Unrealised Currency Gain/(Loss)	$ 3	$ 1	$ (1)
Realised Currency (Loss)/Gains	(200)	14	2
Amounts recognised in profit or loss	$ (197)	$ 15	$ 1

Financial Instruments - Fair _7

Financial Instruments - Fair Value and Financial Risk management - Liquidity Risk (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Deferred consideration, carrying amount	$ 959	$ 955
Trade payables, carrying amount	5,157	5,622
Lease liabilities, carrying amount	433	54
Liquidity risk
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Deferred consideration, carrying amount	959	955
Deferred consideration, contractual cash flows	994	995
Trade payables, carrying amount	5,157	5,622
Trade payables, contractual cash flows	5,157	5,622
Warrant liability, carrying amount	3,670
Warrants liability, contractual cash flow	3,670
Lease liabilities, carrying amount	433	54
Lease liabilities, contractual cash flows	578	57
Total non-derivatives, carrying amount	23,040	33,577
Total non-derivatives, contractual cash flows	28,280	34,086
Derivative financial liabilities, carrying amount		192
Derivative financial liabilities, contractual cash flows		192
Liquidity risk \| 2 months or less
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Deferred consideration, contractual cash flows	0	0
Trade payables, contractual cash flows	5,157	5,622
Warrants liability, contractual cash flow
Lease liabilities, contractual cash flows	20	7
Total non-derivatives, contractual cash flows	5,177	5,629
Derivative financial liabilities, contractual cash flows		0
Liquidity risk \| 3 – 36 months
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Deferred consideration, contractual cash flows	994	995
Trade payables, contractual cash flows	0	0
Warrants liability, contractual cash flow	3,670
Lease liabilities, contractual cash flows	199	50
Total non-derivatives, contractual cash flows	11,816	28,457
Derivative financial liabilities, contractual cash flows		192
Liquidity risk \| Beyond 36 months
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Deferred consideration, contractual cash flows	0	0
Trade payables, contractual cash flows	0	0
Warrants liability, contractual cash flow	0
Lease liabilities, contractual cash flows	359	0
Total non-derivatives, contractual cash flows	11,287	0
Derivative financial liabilities, contractual cash flows		0
Promissory Note \| Liquidity risk
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Borrowings	5,869
Borrowings, contractual cash flows	10,928
Promissory Note \| Liquidity risk \| 2 months or less
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Borrowings, contractual cash flows	0
Promissory Note \| Liquidity risk \| 3 – 36 months
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Borrowings, contractual cash flows	0
Promissory Note \| Liquidity risk \| Beyond 36 months
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Borrowings, contractual cash flows	10,928
Backstop Agreement - Nabors \| Liquidity risk
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Borrowings	6,953
Borrowings, contractual cash flows	6,953
Backstop Agreement - Nabors \| Liquidity risk \| 2 months or less
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Borrowings, contractual cash flows	0
Backstop Agreement - Nabors \| Liquidity risk \| 3 – 36 months
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Borrowings, contractual cash flows	6,953
Backstop Agreement - Nabors \| Liquidity risk \| Beyond 36 months
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Borrowings, contractual cash flows	$ 0
Convertible Notes \| Liquidity risk
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Borrowings		21,415
Borrowings, contractual cash flows		21,708
Convertible Notes \| Liquidity risk \| 2 months or less
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Borrowings, contractual cash flows		0
Convertible Notes \| Liquidity risk \| 3 – 36 months
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Borrowings, contractual cash flows		21,708
Convertible Notes \| Liquidity risk \| Beyond 36 months
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Borrowings, contractual cash flows		0
Shareholders Loan - AgCentral Energy \| Liquidity risk
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Borrowings		5,531
Borrowings, contractual cash flows		5,704
Shareholders Loan - AgCentral Energy \| Liquidity risk \| 2 months or less
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Borrowings, contractual cash flows		0
Shareholders Loan - AgCentral Energy \| Liquidity risk \| 3 – 36 months
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Borrowings, contractual cash flows		5,704
Shareholders Loan - AgCentral Energy \| Liquidity risk \| Beyond 36 months
Disclosure of Maturity Analysis For Derivative and Non-Derivative Financial Liabilities [Line Items]
Borrowings, contractual cash flows		$ 0

Contingent Assets, Liabilitie_2

Contingent Assets, Liabilities & Commitments (Details)	Dec. 07, 2023 MW appointee
Disclosure of contingent liabilities [line items]
Termination term, expected nameplate capacity threshold \| MW	200
EDF JDA
Disclosure of contingent liabilities [line items]
Number of appointees from each party \| appointee	2
Total equity capital investment percentage	75%
Termination after closing date, term	7 years
Proportion of ownership interest in joint venture	100%

Capital reorganization (the "_3

Capital reorganization (the "SPAC Merger") - Narrative (Details) $ / shares in Units, € in Millions	12 Months Ended
	Jun. 30, 2024 USD ($) $ / shares	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 18, 2023 USD ($) $ / shares	Dec. 18, 2023 EUR (€)	Dec. 07, 2023 USD ($)	Oct. 19, 2023 $ / shares
Capital Reorganization [Line Items]
Share based listing expense	$ 106,017,000
Ordinary share, fair value (in dollars per share) \| $ / shares				$ 11.99
Fair value of share consideration	94,811,000
Adjusted NETC’s net liabilities upon closing	11,206,000
Excess of fair value in shares issued over net assets acquired	106,055,000	$ 0	$ 0
Fair value of earnout for NETC Sponsor	$ 22,576,000
Purchase price per share (in dollars per share) \| $ / shares	$ 10.20						$ 10.20
Issuance of senior convertible notes	$ 12,500,000
Nabors Lux and AGCentral Energy
Capital Reorganization [Line Items]
Ordinary shares purchased	30,000,000
AgCentral Energy Pty Ltd
Capital Reorganization [Line Items]
Ordinary shares purchased	15,000,000
Issuance of senior convertible notes	5,000,000
Nabors Lux
Capital Reorganization [Line Items]
Ordinary shares purchased	15,000,000
Issuance of senior convertible notes	7,500,000
Backstop Agreement Amendment - Nabors
Capital Reorganization [Line Items]
Commitment to purchase ordinary shares						$ 10,000,000
Promissory Note - EDF
Capital Reorganization [Line Items]
Notional amount				$ 10,800,000	€ 10
PIPE Financing
Capital Reorganization [Line Items]
Committed subscriptions	22,500,000
PIPE Financing \| AgCentral Energy Pty Ltd
Capital Reorganization [Line Items]
Committed subscriptions	12,500,000
PIPE Financing \| Nabors Lux
Capital Reorganization [Line Items]
Committed subscriptions	$ 10,000,000

Capital reorganization (the "_4

Capital reorganization (the "SPAC Merger") - Ordinary shares issued in exchange (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2024 USD ($) tranche shares	Dec. 18, 2023 USD ($)	Jun. 30, 2023 USD ($)	Feb. 14, 2023 shares
Capital Reorganization [Line Items]
Ordinary shares issued (in shares) \| shares	5,655,000
Fair value of Ordinary shares issued in exchange for NETC shares valued at $11.99 per share	$ 67,799
Vast Warrants issued in exchange for NETC warrants	4,129
Shares issued as settlement of transaction expenses	307
Fair value of earnout for NETC Sponsor	22,576
Fair value of share consideration	94,811
Adjusted NETC’s net liabilities upon closing	11,206
Total	106,017
Prepaid expenses	1,887		$ 44
Total assets	15,770		4,656
Trade and other payables	5,157		5,622
Total liabilities	24,071		$ 34,071
Total net liabilities	(11,206)
Amount committed to invest	$ 7,000
Total shares issued upon closing (in shares) \| shares				29,291,884
Number of equal tranches \| tranche	3
Shares issued as settlement of transaction expenses
Capital Reorganization [Line Items]
Total shares issued upon closing (in shares) \| shares				171,569
Legacy VAST Shares
Capital Reorganization [Line Items]
Ordinary shares issued (in shares) \| shares	1,500,000
Earnout period, shares available for issuance (in shares) \| shares	1,300,000
Ordinary Shares, NETC Sponsor
Capital Reorganization [Line Items]
Earnout period, shares available for issuance (in shares) \| shares	2,400,000
NETC
Capital Reorganization [Line Items]
Adjusted NETC’s net liabilities upon closing		$ 11,206
Cash		9,203
Prepaid expenses		1,325
Total assets		10,528
Trade and other payables		21,525
Income taxes payable		209
Total liabilities		21,734
Total net liabilities		$ (11,206)
NETC Class A Common Stock
Capital Reorganization [Line Items]
Ordinary shares issued (in shares) \| shares	805,000
Backstop Commitment Fee
Capital Reorganization [Line Items]
Ordinary shares issued (in shares) \| shares	350,000
NETC Class F Common Stock
Capital Reorganization [Line Items]
Ordinary shares issued (in shares) \| shares	3,000,000
Accelerated Earnback Shares
Capital Reorganization [Line Items]
Ordinary shares issued (in shares) \| shares	1,500,000

Capital reorganization (the "_5

Capital reorganization (the "SPAC Merger") - Shares issued upon closing of BCA (Details)	Feb. 14, 2023 shares
Capital Reorganization [Line Items]
Total shares issued upon closing (in shares)	29,291,884
Total shares issued upon closing , percent	100%
Legacy Vast shareholders
Capital Reorganization [Line Items]
Total shares issued upon closing (in shares)	20,499,999
Total shares issued upon closing , percent	70%
Other
Capital Reorganization [Line Items]
Total shares issued upon closing (in shares)	804,616
Total shares issued upon closing , percent	2.70%
NETC initial stockholders
Capital Reorganization [Line Items]
Total shares issued upon closing (in shares)	4,500,000
Total shares issued upon closing , percent	15.40%
Shares issued to Nabors Lux and AgCentral Energy in connection with financing transactions
Capital Reorganization [Line Items]
Total shares issued upon closing (in shares)	3,315,700
Total shares issued upon closing , percent	11.30%
Shares issued as settlement of transaction expenses
Capital Reorganization [Line Items]
Total shares issued upon closing (in shares)	171,569
Total shares issued upon closing , percent	0.60%

Related Party Transactions - Ma

Related Party Transactions - Majority shareholders (Details) - Majority shareholders	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
AgCentral Energy Pty Ltd
Disclosure of transactions between related parties [line items]
Ownership interest by majority shareholders	71%	100%	0%
AgCentral Pty Ltd
Disclosure of transactions between related parties [line items]
Ownership interest by majority shareholders	0%	0%	100%
Nabors Industries Ltd.
Disclosure of transactions between related parties [line items]
Ownership interest by majority shareholders	32%	0%	0%

Related Party Transactions - Su

Related Party Transactions - Subsidiaries (Details)	12 Months Ended
Related Party Transactions - Subsidiaries (Details)	Jun. 30, 2024	Jun. 30, 2023
Nabors Transition Energy Corp
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in subsidiary	100%	0%
Neptune Merger Sub, Inc.
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in subsidiary	0%	100%
NWQHPP Pty Ltd
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in subsidiary	100%	100%
Solar Methanol 1 Pty Ltd
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in subsidiary	100%	100%
Vast Solar Aurora Pty Ltd
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in subsidiary	100%	100%
Vast Solar 1 Pty Ltd
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in subsidiary	100%	100%
Vast Solar Consulting Pty Ltd
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in subsidiary	100%	100%
Vast Employee Shareholdings Pty Ltd
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in subsidiary	100%	0%
Vast Intermediate HoldCo Pty Ltd
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in subsidiary	100%	0%
Vast Australia HoldCo Pty Ltd
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in subsidiary	100%	0%
HyFuel Solar Refinery Pty Ltd
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in subsidiary	100%	0%
Vast Renewables HoldCo Corp
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in subsidiary	100%	0%
Vast Renewables Management Services LLC
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in subsidiary	100%	0%
Vast US Projects HoldCo Corp
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in subsidiary	100%	0%
El Paso ProjectCo LLC
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in subsidiary	100%	0%

Related Party Transactions - Tr

Related Party Transactions - Transactions with other related parties (Details) - Other related parties - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Disclosure of transactions between related parties [line items]
Lease rental payment to other related parties	$ 50	$ 43	$ 44
Loan drawn down from parent entity – subsequently converted to Issued Capital upon consummation of the Capital Reorganisation	12,500	4,015	1,838
Loan drawn down from investors – subsequently converted to Issued Capital upon consummation of the Capital Reorganisation	10,000	9,348	2,091
Backstop Facility drawn down from investors	6,953	0	0
Gain on modification of borrowings recognised in the Capital contribution reserve	(4,591)	1,139	1,697
Settlement of all Convertibles Notes, Senior Convertible Notes and Loans from Shareholder upon consummation of the Capital Reorganisation	(226,373)	0	0
Gain on revaluation of derivative financial instruments	170,376	(105)	(3)
Movement in Investment in joint venture	(206)	(242)	1,712
Share based payment expense for the transfer of 264,533 Ordinary Shares issued to the employee share trust and granted to certain employees of Vast.	$ 1,676	$ 0	$ 0

Related Party Transactions - Ke

Related Party Transactions - Key management personnel compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Dec. 18, 2023
Disclosure of transactions between related parties [line items]
Share-based payment transaction, additional value expensed	$ 600
Expense from share-based payment transactions	$ 1,700
Number of shares issued through reorganisation (in shares)	21,137,033
Issued to VAST Employees \| Vast Employees
Disclosure of transactions between related parties [line items]
Number of shares issued through reorganisation (in shares)	264,533			264,533
Key management personnel of entity or parent
Disclosure of transactions between related parties [line items]
Short-term employee compensation/benefits	$ 2,796	$ 1,775	$ 1,130
Share-based payment expense	1,189	0	0
Long-term employee compensation/benefits	29	27	10
Key management personnel compensation	$ 4,014	$ 1,802	$ 1,140

Related Party Transactions - Sa

Related Party Transactions - Sales/purchases of goods and services (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Trade and other receivables owed from related party - Nabors Lux 2 S.a.r.l.
Disclosure of transactions between related parties [line items]
Trade and other receivables owed from related party	$ 0	$ 0
Trade and other payables owed to related party - Capital Airport Group
Disclosure of transactions between related parties [line items]
Amounts payable, related party transactions	0	(54)
Lease liabilities for lease arrangement with related party
Disclosure of transactions between related parties [line items]
Lease liabilities for lease arrangement with related party	$ 33	$ 0

Related Party Transactions - Lo

Related Party Transactions - Loans to/from related parties (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Joint venture
Disclosure of transactions between related parties [line items]
Loan to joint venture	$ 456	$ 225
Shareholder
Disclosure of transactions between related parties [line items]
Loan from shareholder	(6,953)	(5,531)
Shareholder \| Convertible Note 3
Disclosure of transactions between related parties [line items]
Loan from shareholder	0	(8,762)
Shareholder \| Convertible Note 4
Disclosure of transactions between related parties [line items]
Loan from shareholder	0	(4,405)
Shareholder \| Convertible Note 5
Disclosure of transactions between related parties [line items]
Loan from shareholder	0	(1,114)
Shareholder \| Senior Convertible Note
Disclosure of transactions between related parties [line items]
Loan from shareholder	$ 0	$ (2,438)

Cash Flow Information - Net deb

Cash Flow Information - Net debt reconciliation (Details) - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Debt Movement [Line Items]
Cash interest paid	$ 0	$ 0
Cash taxes paid	0	0
Payables that were extinguished upon consummation of capital reorganisation	18,700,000
Cash and cash equivalents	11,081,000	2,060,000	$ 423,000	$ 3,098,000
Total future minimum lease payments	(433,000)	(54,000)
Net debt	(2,172,000)	(24,940,000)
Borrowings and other financial liabilities
Debt Movement [Line Items]
Borrowings	$ (12,821,000)	$ (26,946,000)	$ (15,632,000)	$ (15,431,000)

Cash Flow Information - Net d_2

Cash Flow Information - Net debt movements (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Borrowings and other financial liabilities
Reconciliation of Changes in Net Debt [Abstract]
Liabilities arising from financing activities, beginning of period	$ (26,946)	$ (15,632)	$ (15,431)
Proceeds from loan from related party	(35,285)	(11,138)	(1,838)
Capital contribution (excluding tax impact)		1,517	2,315
Additions	(5,000)
Fair value of embedded derivatives	5,486
Fixed payments	0	0	0
Interest payments			(2,109)
Interest expense	(522)	(2,461)	1,431
Foreign exchange differences	0	767
Liabilities arising from financing activities, end of period	(12,821)	(26,946)	(15,632)
Borrowings and other financial liabilities \| AgCentral Energy Pty Ltd
Reconciliation of Changes in Net Debt [Abstract]
Conversion of loans from AgCentral Energy Ltd	34,447
Borrowings and other financial liabilities \| Nabors Lux
Reconciliation of Changes in Net Debt [Abstract]
Conversion of loans from AgCentral Energy Ltd	15,000
Lease liabilities
Reconciliation of Changes in Net Debt [Abstract]
Liabilities arising from financing activities, beginning of period	(53)	(93)	(137)
Proceeds from loan from related party	0	0	0
Capital contribution (excluding tax impact)		0	0
Additions	(394)
Fair value of embedded derivatives	0
Fixed payments	55	43	46
Interest payments			(10)
Interest expense	(23)	(6)	8
Foreign exchange differences	(18)	3
Liabilities arising from financing activities, end of period	(433)	$ (53)	$ (93)
Lease liabilities \| AgCentral Energy Pty Ltd
Reconciliation of Changes in Net Debt [Abstract]
Conversion of loans from AgCentral Energy Ltd	0
Lease liabilities \| Nabors Lux
Reconciliation of Changes in Net Debt [Abstract]
Conversion of loans from AgCentral Energy Ltd	$ 0

Uncategorized Items - vste-2024

Label	Element	Value
Key management personnel of entity or parent [member]
Key Management Personnel Compensation, Ordinary Shares and Warrants Issued, Shares	vste_KeyManagementPersonnelCompensationOrdinarySharesAndWarrantsIssuedShares	3,616,000