Slide 1: First Quarter 2026 Earnings Presentation
First Quarter 2026 Earnings Presentation May 2026
Slide 2: Important notice
Important notice Cautionary Note Regarding Forward-Looking Statements and Projections. Certain statements in this presentation may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Priva
Slide 3: Clean independent power producer with deep domain knowledge in power generation with carbon capture
Clean independent power producer with deep domain knowledge in power generation with carbon capture integration, utilizing in-house engineering capabilities to maximize project returns Clean. Firm. Scalable. Strategic partners possess industry-leading expertise in all things CO2 : post-combustion ca
Slide 4: Critical initiatives in motion to achieve 2H 2026 FID
Critical initiatives in motion to achieve 2H 2026 FID Progressing interconnected workstreams across power offtake, detailed engineering and project finance to maintain schedule for Project Permian Phase I and catalyze subsequent developments Power offtake Detailed engineering Net Power has engaged a
Slide 5: Seeking offtakers of clean, firm scalable power
Seeking offtakers of clean, firm scalable power Net Power’s flexible deployment offering provides speed to power and rapid scalability First Deployment Second Deployment Third Deployment 80MW Flexible to customer needs Flexible to customer needs Fixed-price long-term Fixed-price long-term Fixed-pric
Slide 6: First 80MW of clean firm power in West Texas by 2029
First 80MW of clean firm power in West Texas by 2029 Project Permian Phase I driving towards achieving first operational natural gas + carbon capture and sequestration (CCS) project in the United States; significant scale up opportunity on existing site • Power generation: natural gas combined cycle
Slide 7: Entropy PCC: proven track record
Entropy PCC: proven track record Project Permian is the next step in the evolution of Entropy’s PCC technology ~5x scaling ~2-3x scaling Glacier Phase 1 Glacier Phase 2 Project Permian Carbon Capture 30 ktpa, 160 ktpa, 380 ktpa, Sizing from gas compressors from gas compressors & turbines from gas tu