Net Power Inc.

For the period ended Sep 30, 2026. Filed Nov 12, 2026.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2026 · Filed Nov 12, 2026

NPWR$0.76-8.7%Stored close · as of Nov 12, 2026

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Contents

Item 6. Exhibits

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Exhibit Number	Description
2.1+	Business Combination Agreement, dated as of December 13, 2022, by and among Rice Acquisition Corp. II, Rice Acquisition Holdings II LLC, Topo Buyer Co, LLC, Topo Merger Sub, LLC and NET Power, LLC (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed with the SEC on December 14, 2022).
2.2	First Amendment to the Business Combination Agreement, dated as of April 23, 2023, by and among Topo Buyer Co, LLC and NET Power, LLC (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed with the SEC on April 24, 2023).
3.1	Certificate of Incorporation of NET Power Inc. (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the SEC on June 14, 2023).
3.2	Bylaws of NET Power Inc. (incorporated by reference to Exhibit 3.2 to the Company’s Current Report on Form 8-K filed with the SEC on June 14, 2023).

10.1+	Deposit and Exclusivity Agreement, dated as of August 13, 2026, between EMPower USA, LLC and Net Power, LLC.
10.2+, †	Assignment and Assumption Agreement, dated as of August 31, 2026, between EMPower USA, LLC and Net Power, LLC.
10.3+, ++	Consent to Assignment and Acknowledgment, dated as of August 27, 2026, by Saulsbury Industries, Inc., acknowledged and agreed by EMPower USA, LLC and Net Power, LLC.
10.4+, ++	Acknowledgment of Wärtsilä North America, Inc., dated as of August 28, 2026.
10.5+, ++	Engineering, Procurement and Construction Agreement, dated as of December 15, 2025, between EMPower USA, LLC and Saulsbury Industries, Inc.
10.6+	First Amendment to Engineering, Procurement and Construction Agreement, dated March 6, 2026, between EMPower USA, LLC and Saulsbury Industries, Inc.
10.7+	Second Amendment to Engineering, Procurement and Construction Agreement, dated May 13, 2026, between EMPower USA, LLC and Saulsbury Industries, Inc.
10.8+, ++	Third Amendment to Engineering, Procurement and Construction Agreement, dated as of June 30, 2026, between EMPower USA, LLC and Saulsbury Industries, Inc.
10.9+, ++, †	Equipment Supply Contract, dated as of December 15, 2025, between Saulsbury Industries, Inc. and Wärtsilä North America, Inc.
10.10	First Amendment to Equipment Supply Contract, dated as of March 6, 2026, between Wärtsilä North America, Inc. and Saulsbury Industries, Inc.
10.11	Second Amendment to Equipment Supply Contract, dated as of June 30, 2026, between Wärtsilä North America, Inc. and Saulsbury Industries, Inc.
10.12+	Suspension Agreement, dated September 8, 2026, among Net Power, LLC, Nuovo Pignone S.r.l., Rice Acquisition Holdings II LLC, Nuovo Pignone International S.r.l. and Rice Acquisition Corp. II, relating to the Amended and Restated Joint Development Agreement dated December 13, 2022.
10.13	Suspension Agreement, dated September 8, 2026, between Net Power, LLC and Nuovo Pignone International S.r.l., relating to the Commercial Agreement effective May 12, 2022.
10.14+	First Amendment to License Agreement, dated September 8, 2026 and effective as of January 1, 2026, among Net Power, LLC, Nuovo Pignone S.r.l. and Nuovo Pignone International S.r.l.
10.15+, ++	Variation Agreement No. 1, dated March 31, 2026, among Net Power, LLC, NET Power Inc., Net Power Operations LLC, Nuovo Pignone International S.r.l., Nuovo Pignone S.r.l. and Baker Hughes Energy Services LLC, including the letter agreement dated January 22, 2026 attached as Schedule 1 thereto.
10.16+	Variation Agreement No. 2, dated June 4, 2026, among Net Power, LLC, NET Power Inc., Net Power Operations LLC, Nuovo Pignone International S.r.l., Nuovo Pignone S.r.l. and Baker Hughes Energy Services LLC.
10.17+, ++, #	Offer Letter between Net Power, LLC and Lee Shuman, accepted March 18, 2026, including the Employee Confidentiality and Invention Assignment Agreement.
10.18	Agreement to Extend FNTP Date, dated October 16, 2026 and effective as of October 15, 2026, between Saulsbury Industries, Inc. and Net Power, LLC.
10.19#	Amendment to Stock Option Agreements, adopted by the Compensation Committee of the Board of Directors effective October 17, 2026, and approved by the Board of Directors as to the President and Chief Operating Officer on November 4, 2026 (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on November 10, 2026).
10.20++, †	Equipment Supply Agreement, dated as of November 12, 2025, between Net Power Canaveral, LLC and Relevant Power Solutions, LLC (refiled to include the statement required by Item 601(b)(10)(iv) of Regulation S-K; originally filed as Exhibit 10.25 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2025).

10.21+, ++, †	Change Order No. 1, dated April 2, 2026, to the Equipment Supply Agreement, dated as of November 12, 2025, between Net Power Canaveral, LLC and Relevant Power Solutions, LLC.
10.22+, ++	Change Order No. 2, dated September 2, 2026, to the Equipment Supply Agreement, dated as of November 12, 2025, between Net Power Canaveral, LLC and Relevant Power Solutions, LLC.
10.23+, ++	Change Order No. 3, dated November 4, 2026, to the Equipment Supply Agreement, dated as of November 12, 2025, between Net Power Canaveral, LLC and Relevant Power Solutions, LLC.
10.24	Amendment No. 1 to Agreement to Extend FNTP Date, dated November 11, 2026, between Saulsbury Industries, Inc. and Net Power, LLC.
31.1	Certification of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2	Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certification of Chief Executive Officer (Principal Executive Officer) Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2	Certification of Chief Financial Officer (Principal Financial Officer) Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS	Inline XBRL Instance Document.
101.SCH	Inline XBRL Taxonomy Extension Schema Document.
101.CAL	Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB	Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104	Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

+	Certain schedules or similar attachments to this exhibit have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to provide a copy of any omitted schedule or similar attachment to the SEC upon request.
++	Certain provisions or terms of this exhibit have been omitted pursuant to Item 601(b)(10)(iv) of Regulation S-K. Redactions and omissions are designated with brackets containing asterisks. The Company agrees to provide on a supplemental basis an unredacted copy of the exhibit and its materiality and privacy or confidentiality analyses to the SEC upon request.
†	Certain personally identifiable information has been omitted from this exhibit pursuant to Item 601(a)(6) of Regulation S-K.
#	Indicates a management contract or compensatory arrangement.

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