NET POWER INC

Ticker: NPWR/WS CUSIP: 64107A113 Class: *W EXP 06/08/202

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (2)

Value ($000) $1 Shares 1,127

Clear Street Group Inc.

Value ($000) $0 Shares 200

Institution	Shares	Value ($000)
UBS Group AG	1,127	$1
Clear Street Group Inc.	200	$0

Increased Positions (3)

ZAZOVE ASSOCIATES LLC

Value ($000) $808 (-28.1%) Shares 1,538,612 (+3.5%)

TORONTO DOMINION BANK

Value ($000) $116 (+65.1%) Shares 232,951 (+147.7%)

Caption Management, LLC

Value ($000) $57 (+391.3%) Shares 114,375 (+637.0%)

Institution	Prev Shares	Curr Shares	Change
ZAZOVE ASSOCIATES LLC	1,486,590	1,538,612	+52,022 (+3.5%)
TORONTO DOMINION BANK	94,059	232,951	+138,892 (+147.7%)
Caption Management, LLC	15,520	114,375	+98,855 (+637.0%)

Decreased Positions (4)

Ionic Capital Management LLC

Value ($000) $82 (-48.2%) Shares 163,972 (-22.4%)

Saba Capital Management, L.P.

Value ($000) $95 (-38.5%) Shares 180,984 (-12.1%)

KENSICO CAPITAL MANAGEMENT CORP

Value ($000) $233 (-35.7%) Shares 465,200 (-3.6%)

WOLVERINE ASSET MANAGEMENT LLC

Value ($000) $63 (-36.9%) Shares 125,055 (-5.3%)

Institution	Prev Shares	Curr Shares	Change
Ionic Capital Management LLC	211,188	163,972	-47,216 (-22.4%)
Saba Capital Management, L.P.	205,984	180,984	-25,000 (-12.1%)
KENSICO CAPITAL MANAGEMENT CORP	482,400	465,200	-17,200 (-3.6%)
WOLVERINE ASSET MANAGEMENT LLC	132,057	125,055	-7,002 (-5.3%)

Exited Positions (2)

Sculptor Capital LP

Value ($000) $65 Shares 85,472

Tower Research Capital LLC (TRC)

Value ($000) $0 Shares 99

Institution	Prev Shares	Prev Value ($000)
Sculptor Capital LP	85,472	$65
Tower Research Capital LLC (TRC)	99	$0