Refuels N.V. — Remuneration Information 2023

Aug 18, 2023

Refuels N.V. - grant of share options to primary insiders

Refuels N.V. - grant of share options to primary insiders

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

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

listed on Euronext Growth Oslo, hereby announces that the Board of Directors

of ReFuels has granted a total of 1,471,039 share options to members of senior

management and employees of ReFuels and its subsidiaries and subsidiary

undertakings (the "Group") (the "Option Grant").

The options have been granted in accordance with the board and shareholder

approvals granted on 9 May 2023 and form part of ReFuels' and its Group's

management and long-term incentive plan.

The exercise price is NOK 29.81 per share, being equal to 120% of the price

per share in the private placement completed in April 2023, ahead of the

admission to trading of ReFuels on Euronext Growth Oslo on 12 May 2023. Each

share option gives the holder the right to purchase one ordinary share in the

capital of ReFuels.

The options vest in tranches, with 25% vesting in August 2024, 25% vesting in

August 2025, 25% vesting in August 2026 and 25% vesting in August 2027. To the

extent vested, options held by (i) executive and non-executive directors are

normally exercisable three years after the grant date; and (ii) all other

employees, two years after the grant date (both being the "Normal Exercise

Date"). Following the Normal Exercise Date, shares are then generally subject

to a minimum holding period being (i) five years from the grant date for

executive and non-executive directors, and (ii) two years from the Normal

Exercise Date for all other employees.

As part of the Option Grant, share options have been allocated to the

following primary insiders of the Company:

· Jasper Nillesen (Managing Director of RTFS and Executive Director) has been

granted 486,526 share options. Following the grant, Mr. Nilssen holds 66,207

shares, 198,621 warrants and 486,526 share options in ReFuels. The shares and

warrants in ReFuels are held indirectly through Mr Nillesen's management

company, Renewable Energy Development Projects B.V. ("REDP"). Mr Nillesen also

indirectly holds 4,200 shares in the capital of ReFuels's subsidiary,

Renewable Transport Fuel Services Limited ("RTFS") and an option over 200

shares in RTFS, held through REDP.

· Yvonne Visser-Stam (Non-Executive Director) has been granted 37,312 share

options. Following the grant, Ms. Visser-Stam holds 0 shares and 37,312 share

options in ReFuels.

· Chandler Hatton (Non-Executive Director) has been granted 20,729 share

options. Following the grant, Ms Hatton holds 0 shares and 20,729 share

options in ReFuels.

· Gareth Luke Preston (Operations Director) has been granted 87,091 share

options. Following the grant, Mr. Preston holds 12,837 shares and 284,591

share options in ReFuels.

· Michael Scott (Construction Director) has been granted 87,091 share options.

Following the grant, Mr. Scott holds 2,530 shares and 284,591 share options in

ReFuels.

· Peter Eaton (Sales & Business Development Director) has been granted 87,091

share options. Following the grant, Mr. Eaton holds 683,608 shares and 537,091

share options in ReFuels.

· Jason Shepherd Abdullah (Land Director) has been granted 87,091 share

options. Following the grant, Mr. Abdullah holds 1,900 shares and 87,091 share

options in ReFuels.

· Alanna Flett (General Counsel) has been granted 87,091 share options.

Following the grant, Ms. Flett holds 0 shares and 87,091 share options in

ReFuels.

· Michael Kuhn (Group Finance Director) has been granted 87,091 share options.

Following the grant, Mr. Kuhn holds 0 shares and 87,091 share options in

ReFuels.

For further information, please contact:

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

Tel.:+44 7768 007 009

E-mail: baden.gowrie-smith@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-2025 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 2023-08-18 15:15 CEST.