OPAL Fuels Inc. — Director's Dealing 2023

May 1, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: OPAL Fuels Inc. (OPAL)
CIK: 0001842279
Period of Report: 2023-04-27

Reporting Person: ArcLight CTC Holdings II, L.P. (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-04-27	Class A Common Stock	J	5943014	—	Disposed	2308310	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	1839840	Indirect

Footnotes

F1: On April 27, 2023, ArcLight CTC Holdings II, L.P., a Delaware limited partnership (the "Sponsor"), distributed the reported securities to its partners for no consideration (the "Distribution").

F2: The reported 2,308,310 shares of Class A common stock, par value $0.0001 per share ("Class A common stock"), of the Issuer are held directly by the Sponsor after giving effect to the Distribution. Daniel R. Revers has voting and investment discretion with respect to the securities held by the Sponsor, and thus may be deemed to have beneficial ownership of such securities. Mr. Revers expressly disclaims any such beneficial ownership of such securities, except to the extent of his individual pecuniary interest therein.

F3: This is an exit filing solely with respect to the Sponsor.

F4: Consists of (i) 1,339,662 shares of Class A common stock received by Daniel Revers in the Distribution, (ii) 331,235 shares of Class A common stock received by ACHP B, L.P., a Delaware limited partnership ("ACHP B"), in the Distribution, (iii) 69,572 shares of Class A common stock received by ACTC Holdings GP II, LLC, a Delaware limited liability company and general partner of the Sponsor ("ACTC GP"), in the Distribution and (iv) 99,371 shares of Class A common stock received by Revers Special Ops Holdings, LLC, a Delaware limited liability company ("Special Ops Holdings"), in the Distribution, which, in each case, constituted a non-reportable change in form pursuant to Rule 16a-13.

F5: (continued from footnote 4) Mr. Revers has voting and investment discretion with respect to the securities held by ACHP B, ACTC GP and Special Ops Holdings, and thus may be deemed to have beneficial ownership of such securities. Mr. Revers expressly disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.