NET Power Inc.

This Report contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Statements that do not relate strictly to historical or current facts are forward-looking and usually identified by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “future,” “intend,” “may,” “opportunity,” “plan,” “project,” “seek,” “should,” “strategy,” “will,” “will likely result,” “would” and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may relate to the development of the Company’s technology, the anticipated demand for the Company’s technology and the markets in which the Company operates, the timing of the deployment of project deliveries, and the Company’s business strategies, capital requirements, potential growth opportunities and expectations for future performance (financial or otherwise). Forward-looking statements are based on current expectations, estimates, projections, targets, opinions and/or beliefs of the Company, and such statements involve known and unknown risks, uncertainties and other factors.

The risks and uncertainties that could cause those actual results to differ materially from those expressed or implied by these forward-looking statements include: (i) risks relating to the uncertainty of the projected financial information with respect to the Company and risks related to the Company’s ability to meet its projections; (ii) the Company’s ability to utilize its net operating loss and tax credit carryforwards effectively; (iii) the capital-intensive nature of the Company’s business model, which will likely require the Company to raise additional capital in the future; (iv) barriers the Company may face in its attempts to deploy its power plants and its ability to successfully develop its power plants; (v) the Company’s ability to successfully negotiate and enter into a definitive agreement with Entropy, Inc. (“Entropy”) to exclusively license its post-combustion carbon capture (“PCC”) technology; (vi) the Company’s ability to successfully develop a modular, standardized clean gas power plant product incorporating Entropy’s PCC technology; (vii) the proper functioning of the complex machinery the Company relies on for its operations and development; (viii) the Company’s ability to adequately control or accurately predict the costs associated with its projects; (ix) risks related to the Company’s strategic decision to broaden the scope of its business; (x) potential changes and/or delays in site selection and construction that result from regulatory, logistical, and financing challenges; (xi) the ability of the Company to integrate other energy technologies in its projects; (xii) the Company’s ability to establish and maintain supply relationships and the impact of any supply chain disruptions; (xiii) the Company’s reliance on the licensing of third party technology for its projects; (xiv) risks related to strategic investors and partners; (xv) the Company’s ability to successfully commercialize its operations; (xvi) the availability and cost of technological components and raw materials for its projects; (xvii) the impact of potential delays in discovering manufacturing and construction issues; (xviii) the ability of the Company’s commercial plants to efficiently provide net power output; (xix) the impact of public perception of fossil fuel-derived energy on the Company’s business; (xx) any political or other disruptions in gas producing nations, including the ongoing conflict in the Middle East; (xxi) risks relating to data privacy and cybersecurity, including the potential for cyberattacks or security incidents that could disrupt our or our service providers’ operations; (xxii) current and potential litigation that has been and may be instituted against the Company; and (xxiii) other risks and uncertainties indicated in Part I, Item 1A of the Annual Report and other documents subsequently filed with the SEC by the Company.

Should one or more of these risks or uncertainties materialize, or should any of the assumptions made by our management prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements contained in this Report. Accordingly, you should not place undue reliance on these forward-looking statements in deciding whether to invest in our securities.

Forward-looking statements speak only as of the date they are made. Except to the extent required by applicable law or regulation, we undertake no obligation to update the forward-looking statements contained herein to reflect events or circumstances after the date of this Report or to reflect the occurrence of unanticipated events. The Company gives no assurance that it will achieve its expectations.