Regulatory

ReFuels Q2 2026: Raised CNG Fuels FY2026 EBITDA guidance to GBP 10–12 million on record volumes – considering uplisting or dual listing

28 November 2025: ReFuels N.V. (ticker: REFL) ("ReFuels"), one of Europe's leading suppliers of renewable biomethane (Bio-CNG) for the decarbonisation of heavy goods vehicles, today releases its interim report for the fiscal second quarter of and first half of 2026 ending on 30 September 2025.

Highlights:

  • Dispensed volumes of biomethane across the CNG Fuels station network up 15% year-over-year
  • CNG Fuels’ Q2 2026 EBITDA of GBP 2.9 million, up 190% from Q2 2025
  • FY 2026 EBITDA expectation increased to GBP 10–12 million
    (previously GBP 8–10 million)
  • Fleet operators starting to introduce 6×2 CNG trucks, the preferred vehicle class in the UK, into operations
  • Three new high-capacity stations to be completed in 2026 supported by cash flow and GBP 25 million debt facility
  • ReFuels is considering uplisting from Euronext Growth Oslo or dual listing during 2026 to expand its investor base and support long-term growth as a cash-generating clean fuel platform

Philip Fjeld, CEO and co-founder of ReFuels, said:
“Biomethane is the preferred solution for decarbonising long-haul transport today, requiring no subsidies and with lower fuel cost compared to all alternatives. This is reflected in increased demand for Bio-CNG and a raised full-year EBITDA guidance for CNG Fuels. The growing cash flow from operations and our new debt facility is invested in new refuelling stations across the UK to enable more fleets to shift from diesel and decarbonise, driving increased future cash generation and returns. As a leading European clean fuels infrastructure platform, we are also considering uplisting or dual listing ReFuels in 2026 to attract new investors and increase liquidity as we execute our profitable growth strategy.”

The interim report and presentation are attached and available on https://refuels.com/investor-relations/.

ReFuels will present the second quarter 2026 results today at 10:00 CET. The webcast will be held by CEO Philip Fjeld and CFO Baden Gowrie-Smith. Please join the presentation via the following link: https://my.demio.com/ref/N2Yywpw5bYBVdf6r

A recorded version of the presentation will also be available after the webcast.

For further information, please contact:

Philip Fjeld, CEO ReFuels N.V.
Tel: +44 7976 159 833
Email: Philip.Fjeld@refuels.com

Baden Gowrie-Smith, MD & CFO, ReFuels N.V.
Tel: +44 7768 007 009
Email: baden.gowrie-smith@refuels.com

About ReFuels
ReFuels is decarbonising Europe's truck fleet through its 40% ownership of CNG Fuels – a fully integrated clean fuel infrastructure platform combining sourcing of renewable biomethane (Bio-CNG), Renewable Transport Fuel Certificates (RTFCs) and ownership and operation of the UK's largest clean fuel station network. By the end of 2028, the target is to have a capacity to serve 20,000 heavy goods vehicles per day, while the long-term ambition is to become Europe's leading integrated supplier of alternative fuels for commercial fleets. For further information, please visit www.refuels.com

This information has been submitted pursuant to the Securities Trading Act § 5-12 and MAR Article 17. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-11-28 07:00 CET.

Attachments
ReFuels Q2 2026 Report
ReFuels Q2 2026 Presentation

ReFuels Q2 2026 Report
ReFuels Q2 2026 Presentation
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