NET Power Inc. — Director's Dealing 2025

Oct 17, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NET Power Inc. (NPWR)
CIK: 0001845437
Period of Report: 2025-10-14

Reporting Person: NPEH, LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-10-14	Class A Common Stock	C	4000000	—	Acquired	4000000	Direct
2025-10-14	Class B Common Stock	J	4000000	—	Disposed	22729880	Direct
2025-10-15	Class A Common Stock	S	100000	$4.8321	Disposed	3900000	Direct
2025-10-15	Class A Common Stock	S	122641	$4.8786	Disposed	3777359	Direct
2025-10-16	Class A Common Stock	S	13959	$4.7061	Disposed	3763400	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-10-14	Class A Units of NET Power Operations LLC	$	C	4000000	Disposed		Class A Common Stock (4000000)	Direct

Footnotes

F1: 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 October 14, 2025, NPEH, LLC ("NPEH") exchanged 4,000,000 Class A Units of NET Power Operations LLC for 4,000,000 shares of the Issuer's Class A Common Stock.

F2: 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 4,000,000 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.

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 $4.67 to $4.93. 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: 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 $4.85 to $4.925. 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.

F5: 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 $4.50 to $4.83. 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.