Refuels N.V. — Earnings Release 2025

May 30, 2025

ReFuels Q4 2025: First profitable quarter on continued Bio-CNG adoption and increased certificates prices - new structure to drive growth

ReFuels Q4 2025: First profitable quarter on continued Bio-CNG adoption and increased certificates prices - new structure to drive growth

30 May 2025: ReFuels N.V. (ticker: REFL) ("ReFuels"), one of Europe's leading

suppliers of renewable biomethane (Bio-CNG) for the decarbonisation of heavy

goods vehicles, today releases its interim report and presentation for the

fiscal fourth quarter of 2025 and preliminary figures for the full-year.

Highlights:

* First profitable quarter since listing in May 2023

* Dispensed volumes of biomethane (Bio-CNG) up 15% quarter-over-quarter and

20% year-over-year

* Currently serving >2,000 CNG trucks, representing ~10% of the UK 4x2 truck

fleet, and first new 6x2 trucks confirmed for delivery in the coming months

* Renewable Transport Fuel Certificates (RTFC) prices steadily increasing to

26 pence, up 70% y-o-y

* Biomethane sourcing for 2025 complete, increasing visibility of healthy

certificate earnings for H2 2025 at higher margins

* Opened 16th station in Scotland in May, increasing capacity to 10,500 HGVs

* Completed transaction with Foresight Group to make CNG Fuels an integrated

clean fuel infrastructure platform

* Fully equity-funded with clear path to grow refuelling capacity to 20,000

HGVs by end-2028

"Bio-CNG is becoming the clean fuel of choice for UK fleet operators with

lower costs than traditional diesel and HVO. This is reflected in ReFuels

reporting its first quarter of profit since listing with a strong growth

outlook. Mass adoption is ongoing with large orders for the new 6x2 CNG

trucks, opening a 6x bigger market than the 4x2 segment we currently fuel.

Certificate prices are also rising, underpinning attractive margins and

earnings for the second half of 2025. Together with Foresight Group, we have

aligned biomethane sourcing, refuelling infrastructure and certificate

generation in one fully-equity funded platform positioned to double capacity

over the next three years and create significant long-term value as UK

transport rapidly transition to renewable biomethane," said Philip Fjeld, CEO

and co-founder of ReFuels.

ReFuels will present its fourth quarter 2025 results today, at 10:00 CEST. The

webcast will be held by CEO Philip Fjeld and CFO Baden Gowrie-Smith. Please

join the presentation via the following link:

https://my.demio.com/ref/N2Yywpw5bYBVdf6r

A recorded version of the presentation will also be available after the

webcast is concluded.

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

Baden Gowrie-Smith, MD & CFO, Refuels N.V.

Tel: +44 7768 007 009

E-mail: baden.gowrie-smith@refuels.com

About ReFuels

ReFuels is decarbonising Europe's truck through its 40% ownership of CNG Fuels

- a fully integrated clean fuel infrastructure platform combining sourcing of

renewable biomethane (Bio-CNG), Renewable Transport Fuel Certificates (RTFCs)

and ownership and operation of UK's largest clean fuel station network. By

end-2028, the target is to have a capacity to serve 20,000 heavy goods

vehicles per day 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

2025-05-30 07:00 CEST.

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

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

2025-05-30 06:30 CEST.