Everfuel: HySynergy update

01 Mar 2024 09:06 CET

Herning, Denmark, 1 March 2024 - Everfuel A/S today provides an update on the
commissioning of the 20 MW HySynergy 1 electrolyser.

The main electrolyser facility is ready for start-up, but the company has
experienced a quality issue on high pressure fittings in the deoxidiser, which
removes oxygen and moisture from the hydrogen flow as part of the electrolyser's
high-pressure auxiliary system. This unit is part of the electrolyser supplier
delivery package.

Approval of the deoxidiser is the last remaining milestone before achieving PED
(pressure equipment directive) certification. Following a failed test late on 29
February, the unit will require an on-site rebuild, which impacts the timeline
for completion of the HySynergy 1 facility. Start-up is now expected in the
middle of the second quarter of 2024.

Everfuel continues to progress the commission of the other high-pressure systems
not affected by the deoxidiser. The HySynergy 1 facility is owned by the
Everfuel Hy24 JV. Everfuel will provide more details at the fourth quarter
earnings presentation on 5 March.

For further information, please contact:

Jacob Krogsgaard, CEO, Everfuel, +45 2871 8945
Mads Tirsgaard Mortensen, Investor Relations Director, Everfuel,
mm@everfuel.com, +45 7730 4727

About Everfuel | www.everfuel.com

Everfuel is making green hydrogen for zero emission industry and mobility
commercially available across Europe, offering competitive all-inclusive
hydrogen supply and fuelling solutions. We own and operate green hydrogen
infrastructure and partner with industry and vehicle OEMs to connect the entire
hydrogen value chain and seamlessly provide hydrogen fuel to enterprise
customers under long-term contracts. Green hydrogen is a 100% clean energy
carrier made from renewable solar and wind power and key to decarbonising
industry and transportation in Europe. We are an ambitious, rapidly growing
company, headquartered in Herning, Denmark, and with activities in Norway,
Denmark, Sweden, The Netherlands and Germany, and a plan to grow across Europe.
Everfuel is listed on Euronext Growth in Oslo under EFUEL.

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act. This information was issued as
inside information pursuant to the EU Market Abuse Regulation, and was published
by Mads Tirsgaard Mortensen, Director of Investor Relations, at Everfuel A/S on
the date and time provided.

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