Refuels N.V. — Earnings Release 2024

Jan 9, 2025

Biomethane Station Data December and full-year 2024

Biomethane Station Data December and full-year 2024

9 January 2025 - ReFuels N.V., one of Europe's leading suppliers of renewable

biomethane (Bio-CNG) for decarbonising heavy goods vehicles, published Bio-CNG

station data for December and full-year 2024.

* 4,858 tonnes of Bio-CNG were dispensed from 15 public access refuelling

stations in operation during December 2024, an increase of 17% from 4,154

tonnes in December 2023 (13 stations)

* For the full year 2024, 55,012 tonnes were dispensed, up 27% from 43,269

tonnes in 2023

* The average daily dispensed volume was 157 tonnes in December 2024 compared

to 134 tonnes dispensed per day in the year-earlier period

* For the three months ending 31 December 2024, the total dispensed volume was

14,835 tonnes, an increase of 18% compared to the same period in 2023

* In December, a daily average of 1,944 vehicles refuelled at ReFuels' Bio-CNG

stations, compared to 1,617 vehicles for the same period last year,

corresponding to a 20% growth

* Prices for Renewable Transport Fuel Certificates (RTFCs) averaged 24.4 pence

in December 2024, up 41% compared to December 2023

"We are pleased to see another year with strong growth in dispensed volumes.

In the days and weeks leading up to Christmas, ReFuels set new dispensing

records driven by a bigger fleet of Bio-CNG trucks and increased holiday

season activity. While truck numbers continued to grow in December, the pace

was slightly slower than anticipated as a large delivery of new vehicles moved

into January. As expected, total December volumes were seasonally lower than

in November as trucks are parked up over Christmas, with the timing of the

2024 holidays contributing to a slightly larger decline than in 2023," said

Philip Fjeld, CEO of ReFuels.

ReFuels had 168 unique customer fleets refuelling across the network in the

three months ending 31 December 2024, compared to 146 for the comparable

period in 2023.

In addition to Bio-CNG dispensing, Refuels generates revenue from sales of

Renewable Fuel Transport Certificates (RTFCs.) Refuels is awarded 3.8 RTFCs

per kilo dispensed Bio-CNG, which are sold to fuel suppliers with a blending

obligation. In December, the average price per RTFC was 24.4 pence, compared

with 17.3 pence in December 2023.

Through the CNG Fuels brand, ReFuels operates 15 public access Bio-CNG

stations on major trucking routes in the UK. ReFuels has one station under

construction in Livingston Scotland, which will enable low-emission transport

between Glasgow and Edinburgh. ReFuels has a target of 30-40 stations in

operation and under construction by the end of 2026.

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 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 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./).

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

5-12 and MAR Article 17. The information was submitted for publication at

2025-01-09 07:00 CET.