Slide 1: Second Quarter 2024 Results
Second Quarter 2024 Results August 12, 2024 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: Overview
Overview Danny Rice, Chief Executive Officer
Slide 4: NET Power delivers the Energy Trifecta
NET Power delivers the Energy Trifecta CLEAN RELIABLE AFFORDABLE High carbon capture capacity 24 hours/day, 7 days/week Competitive power production 97%+ inherent carbon capture Baseload, dispatchable, and peaking State-of-the-art modularized standard generating pipeline-ready CO2 capabilities compl
Slide 5: Three-Pillar 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 6: 2024 Milestones
Commence Baker Hughes Equipment Validation at La Porte Complete Project Permian Front-End Engineering and Design (FEED) 2024 Milestones Finalize Long-Term Air Separation Unit Partnership Advance NPWR Origination Projects
Slide 7: North America Origination – Setting the Stage for Valuable Future Deployments
North America Origination – Setting the Stage for Valuable Future Deployments North American TAM (1) = 800-1,000 NPWR Plants between 2028-2040 Midcontinent (MISO) Load growth, carbon storage projects Alberta, Canada (AESO) across states, datacenter demand Supportive carbon capture policy NPWR (OP1):
Slide 8: Operational Updates
Operational Updates Brian Allen, President and Chief Operating Officer
Slide 9: La Porte validation will de-risk and optimize the first utility-scale plant
On Track for Phase 1 Baker Hughes Testing in Q4 2024 La Porte validation will de-risk and optimize the first utility-scale plant Validation Phases Expected Phase Timing Phase 1: Oxy-Fuel Burner Configurations • Test multiple burners configurations in a dedicated test rig • Result: ignite and detect
Slide 10: First Phase of Baker Hughes Equipment Validation Expected to Start in Q4 2024
First Phase of Baker Hughes Equipment Validation Expected to Start in Q4 2024 Finalizing La Porte Preparations • Ongoing activities related to inspections, motor runs and preventative maintenance on all major components • Installation of piping and instrumentation continues per schedule • Ongoing wo
Slide 11: Progressing Project Permian
Progressing Project Permian Recent Updates Upcoming: Q3 – Q4 2024 Signed Limited Notice to Proceed (LNTP) with Baker Completion of FEED Hughes to release all long-lead materials required to meet schedule for utility-scale turboexpander Standard inside battery limits (ISBL) / site-specific outsid
Slide 12: Financial Updates
Financial Updates Akash Patel, Chief Financial Officer
Slide 13: Q2 2024 Financial Updates
Q2 2024 Financial Updates Continued Prudent Deployment of Capital Cash and Investments Breakdown Q2 Q1 Change Total cash and investments of ~$609mm as of (in $mm) 2024 2024 (Q2 vs. Q1) 6/30/2024 (1)(2) Cash and cash equivalents $405 $429 Total quarter-over-quarter change in cash & investments of