Step 1: Understanding NADPH$_2$ formation.
During the light reaction of photosynthesis, NADP$^+$ is reduced to NADPH$_2$. This reduction requires the transfer of electrons as well as protons (H$^+$ ions). Step 2: Analyzing the options. (A) only protons: Incorrect. Protons alone cannot reduce NADP$^+$. (B) only electrons: Incorrect. Both electrons and protons are required. (C) neither protons nor electrons: Incorrect. Reduction cannot occur without them. (D) protons along with electrons: Correct. NADP$^+$ accepts both electrons and protons to form NADPH$_2$. Step 3: Conclusion.
The correct answer is (D) protons along with electrons.