ReFuels second quarter 2024: Increased customer demand supports roll-out of additional Bio-CNG refuelling stations.

30 November 2023: 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 and presentation for the second quarter and first half of 2024.

Key events in the period:

* 11,523 tonnes of renewable Bio-CNG dispensed across CNG Fuels’ operating refuelling stations in the quarter, up 75% compared to last year
* During the quarter, on average, 1,449 heavy goods vehicles (HGVs) used the stations, a 51% year-over-year increase from 961 vehicles
* 30.496 million Renewable Transport Fuel Certificates (RTFCs) were generated and sold
* Current estimates show that 143 customer’s total vehicle order backlog potentially exceeds 1,000 vehicles by the end of 2023
* Record number of trials with a six-to nine-month backlog for some demo vehicles
* Opening of the 12th refuelling station in July, increasing the refuelling capacity to over 6,500 high mileage HGVs per day
* Started construction of the Aylesford station in August and Doncaster in South Yorkshire during November
* ReFuels and partners in UK green hydrogen project HyHAUL awarded GBP 31.7 million funding for hydrogen mobility solutions

"We have a record-high number of unique customer fleets, which continue to replace diesel trucks with Bio-CNG vehicles. In addition, we experienced strong demand for trials to better understand the potential for CO2 and cost reductions from large nationwide fleets, as well as from smaller, more regional fleets. This confirms that CNG trucks are moving towards mass adoption in the UK, supporting our roll-out of stations along major trucking routes. We are on track for having 15 operational sites by the end of the current financial year and 30-40 stations by the end of 2026," said Philip Fjeld, CEO and co-founder of ReFuels.

ReFuels will present its second quarter 2024 results during a webcast at 10:00 CEST today. The presentation will be held by CEO Philip Fjeld and CFO Baden Gowrie-Smith. Please join the webcast via the following link: https://forms.office.com/e/DgHKP1MZA6 (https://forms.office.com/e/DgHKP1MZA6)

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

To receive ReFuels' stock exchange and press releases via email, subscribe at refuels.com/investors.

For further information, please contact:

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

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

About ReFuels
ReFuels is decarbonising Europe's truck fleet by developing, owning, and operating green station infrastructure. We are rolling out a network of reliable and convenient stations offering renewable biomethane fuels to heavy goods vehicles, with hydrogen and electricity to be added. By the end-2026 the target is to have 30-40 stations across the UK, 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 (http://www.refuels.com./).