Slide 1: Third Quarter 2023 Results
Third Quarter 2023 Results November 14, 2023 1
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: NET Power Leadership
NET Power Leadership Danny Rice Brian Allen Akash Patel Chief Executive Officer President & Chief Operating Officer Chief Financial Officer 3
Slide 4: Three-Pillared Strategy to Create Shareholder Value
1 Develop and Prove the Technology at the Utility Scale Progress equipment development program with Baker Hughes Complete Front-End Engineering and Design (FEED) Secure equipment partnerships, supply and offtake agreements, and necessary capital Construct and operate with focus on clean, rel
Slide 5: Preparing La Porte Facility for Baker Hughes Demonstrations
Preparing La Porte Facility for Baker Hughes Demonstrations La Porte Facility Updates La Porte demonstrations will de-risk the first utility- scale project Site work continues in preparation for combustor and turboexpander demonstrations with Baker Hughes Current plant developments include:
Slide 6: Progressing Development of Project Permian and Utility-Scale Design
Progressing Development of Project Permian and Utility-Scale Design Project Permian Q3 2023 Updates Advanced Front-End Engineering and Design Submitted DOE Funding Application COMPLETED YTD (FEED) with Zachry Group Initiated Community Engagement Completed initial survey and environmental assessm
Slide 7: Roadmap to Commercial Success
Roadmap to Commercial Success We believe origination project success requires symbiotic cooperation across a wide range of stakeholders • Identify potential plant sites in good power markets with proximity to (i) natural gas infrastructure, (ii) carbon sinks and Local (iii) electricity transmission
Slide 8: Q3 2023 Financial Updates
Q3 2023 Financial Updates Change (in $mm) Q3 2023 Q2 2023 (Q2 vs. Q3) Strong balance sheet with total cash Cash 545 649 and short-term investments of Short Term Investments 100 - $645mm Total Cash & Short-Term 645 649 (4) Investments Interest Receivable 3 2 Total Short-Term Liquidity & 648 651 (3)
Slide 9: Capitalization Summary as of 9/30/2023
Capitalization Summary as of 9/30/2023 Share Type Amount (mm) NET Power Inc. Class A Shares 71.0 Vested Class B Shares 140.2 TOTAL VESTED SHARES OUTSTANDING 211.2 Public Warrants 8.6 Private Warrants 10.9 Earn Out / Unvested Shares 1.7 Remaining Authorized JDA Share Issuances 14.3 TOTAL DILUTIVE SHA