Refuels N.V. — Earnings Release 2024

Mar 13, 2024

Biomethane Station Data February 2024

Biomethane Station Data February 2024

13 March 2024 - ReFuels N.V., one of Europe's leading suppliers of renewable

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

published Bio-CNG station data for February 2024.

* A total volume of 4,105 tonnes of Bio-CNG was dispensed from 13 public

access refuelling stations in operation during February 2024, an increase of

52.8% from 2,684 tonnes in February 2023 (10 stations)

* The average daily dispensed volume was 142 tonnes in February 2024, compared

to 140 tonnes dispensed per day in January

* For the three months ending 29 February 2024, the total dispensed volume was

12,597 tonnes, an increase of 52% compared to the three months ending 28

February 2023

* In February, a daily average of 1,642 vehicles refuelled at ReFuels' Bio-CNG

stations, compared to 1,146 vehicles for the same period last year

"With 1,642 heavy goods vehicles using our station network, we now have a

~7.5% market share of the 4x2 articulated trucks in the UK, expected to grow

to more than 10% with the more than 950 trucks to be delivered over the next

12 months. Scania and Iveco have now introduced 6x2 CNG trucks, a market 6

times larger than the 4x2 articulated truck market, drastically expanding our

total available market.

During the first 11 weeks of 2024, 16 new fleets have conducted CNG vehicle

trials. This is an increase from 6 during the same period in 2023. 11 CNG demo

trucks are now available for fleet trials across the UK. This is an increase

from 5 during the same period in 2023.

Opening more stations later this year, combined with the next five stations we

have in the pipeline, is also expected to unlock additional truck orders and

support increased utilisation of our stations and continued high growth in

dispensed volumes," said Philip Fjeld, CEO of ReFuels.

ReFuels had 146 unique customer fleets refuelling across the network at the

end of February 2024, compared to 90 at the end of February 2023.

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

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

construction, one in Aylesford in Southeast England and one in Doncaster in

South Yorkshire which is one of the UK's largest logistics hubs.

ReFuels provides monthly operational updates, which are normally released

within ten working days after the end of the 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 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 2024-03-13 07:00 CET.