Refuels N.V. — Earnings Release 2024

Dec 6, 2023

Biomethane Station Data November 2023

Biomethane Station Data November 2023

6 December 2023 - Refuels N.V., one of Europe's leading suppliers of renewable

biomethane (Bio-CNG) for decarbonisation of heavy goods vehicles, today

published Bio-CNG station data for November 2023.

* A total volume of 4,334 tonnes of Bio-CNG was dispensed from 13 public

access refuelling stations in operation during November 2023. This is a

51.3% increase from 2,863 tonnes dispensed in November 2022 (10 stations)

* The average daily dispensed volume was a record 144.5 tonnes, compared to

132 tonnes dispensed per day in October

* For the three months ending 30 November 2023, the total dispensed volume was

12,314 tonnes, an increase of 60% compared to the three months ending 30

November 2022

* For the three months ending 30 November 2023, a daily average of 1,535

vehicles refuelled at ReFuels' Bio-CNG stations, compared to 1,026 vehicles

for the same period last year

* Record number of vehicle trials and indications of customers expanding

vehicle backlogs, supporting further long-term growth in Bio-CNG demand

"This month, we reached a new milestone with our first week of dispensing more

than 1 million kg renewable biomethane, only 14 months after we passed the

500,000 kg per week mark. This reflects the rapidly growing demand for Bio-CNG

as both larger and smaller fleet owners adopt biomethane as their fuelling

solution of choice to drive down emissions from heavy-duty trucking. We are

well positioned to capture this growth with our existing infrastructure and

continuously expanding station network," said Philip Fjeld, CEO of ReFuels.

Through the CNG Fuels brand, ReFuels operates 13 public access Bio-CNG

stations on major trucking routes in the UK. The group has two more stations

under construction in Aylesford in Southeast England and Doncaster in South

Yorkshire, one of the UK's largest logistic hubs, and expects one further

station to commence construction during the financial reporting year ending 31

March 2024.

ReFuels provides monthly operational updates, which are normally released

within ten working days after the end of a month.

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

About ReFuels

ReFuels is decarbonizing 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 of 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./).