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: 8 Rivers Capital, LLC (10% Owner)
Reporting Person: BEAUCHAMP DAMIAN R. (10% Owner)
Reporting Person: Beauchamp Cynda (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	Indirect
2025-10-14	Class B Common Stock	J	4000000	—	Disposed	22729880	Indirect
2025-10-15	Class A Common Stock	S	100000	$4.8321	Disposed	3900000	Indirect
2025-10-15	Class A Common Stock	S	122641	$4.8786	Disposed	3777359	Indirect
2025-10-16	Class A Common Stock	S	13959	$4.7061	Disposed	3763400	Indirect

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)	Indirect

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.

F6: 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.

F7: Damian Beauchamp ("Mr. Beauchamp") and Cynda Beauchamp ("Mrs. Beauchamp") are married and each independently indirectly owns approximately 34.2% of 8 Rivers. Accordingly, each may be deemed the indirect beneficial owner of the securities owned by NPEH to the extent of his or her pecuniary interest therein. Mr. and Mrs. Beauchamp disclaim beneficial ownership of these securities except to the extent of his or her pecuniary interest therein.