Refuels N.V. — Earnings Release 2024

Oct 2, 2023

Biomethane Station Data September 2023

Biomethane Station Data September 2023

2 October 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 September 2023.

* A total volume of 3,885 tonnes of Bio-CNG was dispensed from 12 public

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

70.2% increase from 2,282 tonnes dispensed in September 2022 (8 stations)

* The average daily dispensed volume was a record 129.5 tonnes, compared to

124 tonnes dispensed per day in August.

* For the three-month period ending 30 September 2023, the total dispensed

volume was 11,523 tonnes, an increase of 75% compared to the three-month

period ending 30 September 2022

* For the three-month period, a daily average of 1,449 vehicles refuelled at

ReFuels' Bio-CNG stations, compared to 961 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

"We continue to deliver strong growth with a sequential increase in dispensed

volumes of 4.6% in September compared to August this year, and a 75% increase

when looking at the three months ending in September compared to the same

period in 2022. This is driven by our UK-wide station network, which enables

our customers to refuel with low-carbon Bio-CNG all across the UK. We are

growing this network to make it even easier for fleet owners to choose Bio-CNG

over diesel to both reduce CO2 emissions by as much as 90% and cut fuel

costs," said Philip Fjeld, CEO of ReFuels.

ReFuels had 143 unique customer fleets refuelling across the network at the

end of September 2023. This is an increase from 128 at the end of June 2023

and 90 at the end of September 2022.

"We are currently executing a record number of trials with a six-month backlog

for some trial vehicles. Based on indications from existing and new customers

we expect orders over the coming three months to outpace planned vehicle

deliveries in the same period. We, therefore, see our customers' total vehicle

order backlog potentially exceeding 1,000 vehicles at the end of 2023, further

driving long-term demand for our renewable biomethane," said Philip Fjeld.

Through the CNG Fuels brand, ReFuels operates 12 public access Bio-CNG

stations on major trucking routes in the UK. The group expects at least four

further stations to commence construction during the financial reporting year

ending 31 March 2024, including the site in Aylesford, Southeast England.

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

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 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./).

This information has been submitted pursuant to the Securities Trading Act §

5-12 and MAR Article 19 no. 3. The information was submitted for publication

at 2023-10-02 08:15 CEST.