NET Power Inc. — Director's Dealing 2024

Sep 17, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NET Power Inc. (NPWR)
CIK: 0001845437
Period of Report: 2024-09-12

Reporting Person: 8 Rivers Capital, LLC (10% Owner)
Reporting Person: SK INC. (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-09-12	Class A Common Stock	S	2315	$7.2635	Disposed	105537	Indirect
2024-09-13	Class A Common Stock	S	1340	$7.2596	Disposed	104197	Indirect
2024-09-16	Class A Common Stock	S	36752	$7.0506	Disposed	67445	Indirect
2024-09-16	Class A Common Stock	C	500000	—	Acquired	567445	Indirect
2024-09-16	Class B Common Stock	J	500000	—	Disposed	29005300	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-09-16	Class A Units of Net Power Operations LLC	$	C	500000	Disposed		Class A Common Stock (500000)	Indirect

Footnotes

F1: The price reported reflects the weighted average sales price. The shares of Class A Common Stock were sold in multiple trades at prices ranging from $7.25 to $7.29. NPEH, LLC ("NPEH") will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

F2: The price reported reflects the weighted average sales price. The shares of Class A Common Stock were sold in multiple trades at prices ranging from $7.25 to $7.30. NPEH will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

F3: The price reported reflects the weighted average sales price. The shares of Class A Common Stock were sold in multiple trades at prices ranging from $7.00 to $7.11. NPEH will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

F4: As manager and holder of approximately 91.4% of the outstanding equity in NPEH, 8 Rivers Capital, LLC ("8 Rivers") may be deemed to be a beneficial owner of the securities directly owned by NPEH. 8 Rivers disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that 8 Rivers is the beneficial owner of such securities for purposes of Section 16 or otherwise.

F5: SK Inc. ("SK") indirectly beneficially owns 100.0% of each of Tillandsia, Inc. ("Tillandsia"), Areca, Inc. ("Areca") and Chamaedorea, Inc. ("Chamaedorea"). Each of Tillandsia, Areca and Chamaedorea beneficially owns approximately 18.06%, 25.02% and 23.41%, respectively, of the voting units of 8 Rivers and thus SK may be deemed to be a beneficial owner of the securities beneficially owned by 8 Rivers and NPEH. SK disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that SK is the beneficial owner of such securities for purposes of Section 16 or otherwise.

F6: The Class A Units of NET Power Operations LLC are exchangeable into shares of the Issuer's Class A Common Stock or, at the Issuer's election, cash, on a one-for-one basis and have no expiration date. On September 16, 2024, NPEH exchanged 500,000 Class A Units of NET Power Operations LLC for 500,000 shares of the Issuer's Class A Common Stock.

F7: For each Class A Unit of Net Power Operations LLC, NPEH owns a corresponding share of Class B Common Stock of the Issuer. Upon the exchange of 500,000 Class A Units of Net Power Operations LLC, an equal number of shares of Class B Common Stock of the Issuer held by NPEH, which have no economic value, were cancelled.