NET Power Inc. — Director's Dealing 2023

Aug 18, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NET Power Inc. (NPWR)
CIK: 0001845437
Period of Report: 2023-08-16

Reporting Person: Derham Kyle (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-08-16	Class B Units of NET Power Operations LLC	$	C	1390348	Disposed		Class A Common Stock (1390348)	Direct
2023-08-16	Class A Units of NET Power Operations LLC	$	C	1390348	Acquired		Class A Common Stock (1390348)	Direct
2023-08-16	Class B Units of NET Power Operations LLC	$	C	286320	Disposed		Class A Common Stock (286320)	Indirect
2023-08-16	Class A Units of NET Power Operations LLC	$	C	286320	Acquired		Class A Common Stock (286320)	Indirect

Footnotes

F1: The Class B Units of NET Power Operations LLC ("Opco") are convertible into Class A Units of Opco on a one-for-one basis pursuant to the terms of the limited liability company agreement of Opco (the "Opco LLCA"). The Class A Units of Opco (together with the corresponding shares of the issuer's Class B common stock) are then exchangeable into cash or shares of the issuer's Class A common stock on a one-for-one basis, at the issuer's election, and have no expiration date.

F2: On August 16, 2023, pursuant to the Opco LLCA, all Class B Units of Opco converted into Class A Units of Opco on a one-for-one basis due to the exercise on such date by a member of Opco of its Class B Conversion Right (as defined in the Opco LLCA).

F3: The Opco Class A Units (together with the corresponding shares of the issuer's Class B common stock) are exchangeable into cash or shares of the issuer's Class A common stock on a one-for-one basis, at the issuer's election, and have no expiration date.

F4: The reporting person is the trustee of The Derham Children's Trust of 2020 (the "Trust"). By virtue of the relationship, the reporting person may be deemed to have or share beneficial ownership of the securities held of record by the Trust, but the reporting person disclaims any beneficial ownership of the reported securities other than to the extent of any pecuniary interest he may have therein, directly or indirectly.