Refuels N.V. — Earnings Release 2025

Apr 3, 2025

Biomethane Station Data March 2025

Biomethane Station Data March 2025

3 April 2025 - ReFuels N.V., a leading European supplier of renewable

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

today published Bio-CNG station data for March 2025.

* A record 5,207 tonnes of Bio-CNG were dispensed from CNG Fuels' 15 public

access refuelling stations in operation during March 2025, an increase of

18% from 4,425 tonnes in March 2024 (13 stations)

* Average daily dispensed volume of 168.0 tonnes in March, up 18% compared to

142.8 tonnes dispensed per day in the year-earlier period

* For the three months ending 31 March 2025, the total dispensed volume was

14,788 tonnes, an increase of 15% compared to the same period in 2024

* In March, a daily average of 2,013 vehicles refuelled at ReFuels' Bio-CNG

stations, up 18% from 1,684 vehicles in the same period last year

* Prices for Renewable Transport Fuel Certificates (RTFCs) averaged 26.1 pence

in March 2025, up 70% compared to March 2024

"Last month, we dispensed record volumes of Bio-CNG and had the first month

with over 2,000 trucks refuelling at CNG Fuels' UK stations. This represents

close to 10% of the UK 4x2 truck fleet and confirms the ongoing mass adoption

of Bio-CNG as the clean fuel of choice for fleet operators. Our unique station

network puts ReFuels in a pole position to capture the upside as the

significantly larger 6x2 HGV fleet starts to transition to biomethane

supported by multiple trials with very positive feedback. Certificate prices

are also steadily increasing, and we are now fully sourced for the biomethane

we expect to dispense in 2025. Our team's focus is now on sourcing biomethane

for calendar year 2026.," said Philip Fjeld, the CEO of ReFuels.

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

three months ending 31 March 2025, compared to 153 for the comparable period

in 2024.

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 March, the average price per RTFC was 26.1 pence, compared with

15.4 pence in March 2024.

CNG Fuels supplies biomethane through a growing network of refuelling

stations, currently operating 15 public access Bio-CNG stations on major

trucking routes in the UK. One station is under construction in Livingston in

Scotland, which will enable low-emission transport between Glasgow and

Edinburgh.

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. Market leader in

the UK with long-term ambition to expand in other European markets and active

across the biomethane supply chain, including unlocking material value from

Renewable Transport Fuel Certificates (RTFCs). For further information please

visit 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

2025-04-03 06:30 CEST.