Sk Inc. - Jul 30, 2025 Form 4 Insider Report for NET Power Inc. (NPWR)

Role: 10%+ Owner
Signature: /s/ Munhyuk Jang, Head of Corporate Management Department of SK Inc.
Stock symbol: NPWR
Transactions as of: Jul 30, 2025
Transactions value $: $0
Form type: 4
Date filed: 7/31/2025, 07:06 PM
Previous filing: Jul 17, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
SK INC.	10%+ Owner	26, JONG-RO, JONGNO-GU, SEOUL, KOREA, REPUBLIC OF	/s/ Munhyuk Jang, Head of Corporate Management Department of SK Inc.	2025-07-31	0001947998

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NPWR	Class B Common Stock	Other		-26.7M	-100%		0	Jul 30, 2025	See Footnotes	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	NPWR	Class A Units of NET Power Operations LLC	Other		-26.7M	-100%		0	Jul 30, 2025	Class A Common Stock	26.7M		See Footnotes	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Sk Inc. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	The securities reported in this Form 4 are directly held by NPEH, LLC ("NPEH"), a limited liability company of which the Reporting Person was the indirect majority owner. On July 30, 2025, the Reporting Person sold 100% of the equity interests of each of Tillandsia, Inc. ("Tillandsia"), Areca, Inc. ("Areca") and Chamaedorea, Inc. ("Chamaedoria"). Tillandsia, Areca and Chamaedorea own approximately 18.6%, 25.77% and 24.11%, respectively, of the voting units of 8 Rivers Capital, LLC ("8 Rivers"). 8 Rivers is the manager and owns approximately 91.4% of NPEH.
F2	For each Class A Unit of Net Power Operations LLC, NPEH owns one corresponding share of Class B Common Stock of the Issuer. The Class A Units of NET Power Operations LLC are exchangeable (together with the cancellation of a corresponding number of shares of the Issuer's Class B Common Stock) into shares of the Issuer's Class A Common Stock on a one-for-one basis or, at the Issuer's election, cash, and have no expiration date.

Content

The securities reported in this Form 4 are directly held by NPEH, LLC ("NPEH"), a limited liability company of which the Reporting Person was the indirect majority owner. On July 30, 2025, the Reporting Person sold 100% of the equity interests of each of Tillandsia, Inc. ("Tillandsia"), Areca, Inc. ("Areca") and Chamaedorea, Inc. ("Chamaedoria"). Tillandsia, Areca and Chamaedorea own approximately 18.6%, 25.77% and 24.11%, respectively, of the voting units of 8 Rivers Capital, LLC ("8 Rivers"). 8 Rivers is the manager and owns approximately 91.4% of NPEH.

For each Class A Unit of Net Power Operations LLC, NPEH owns one corresponding share of Class B Common Stock of the Issuer. The Class A Units of NET Power Operations LLC are exchangeable (together with the cancellation of a corresponding number of shares of the Issuer's Class B Common Stock) into shares of the Issuer's Class A Common Stock on a one-for-one basis or, at the Issuer's election, cash, and have no expiration date.