Everfuel A/S: Cancellation of subsequent offering

24 Apr 2023 16:35 CEST

NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN
OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR
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Herning, Denmark, 24 April 2023: Reference is made to the stock exchange
announcement made by Everfuel A/S (the "Company") on 9 March 2023 regarding the
successful completion of a private placement of 8,279,960 new shares at a price
of NOK 34.00 per share, raising gross proceeds of approximately NOK equivalent
of EUR 25 million (the "Private Placement"). In the announcement, it was stated
that the Company's board of directors would consider carrying out a subsequent
offering directed towards eligible shareholders of up to 2,000,000 new shares at
the same subscription price as in the Private Placement (the "Subsequent
Offering").

The Company's board of directors has resolved not to proceed with the Subsequent
Offering.

The background for the cancellation is that the Company's shares, since
completion of the Private Placement, have traded below the subscription price in
the Private Placement for a substantial period of time and at significant
volumes. Existing shareholders wishing to reduce the dilutive effect of the
Private Placement have thus had the opportunity to purchase shares in the market
at prices below the price which would have been the subscription price in the
Subsequent Offering.

For additional information, please contact:

Jacob Krogsgaard, CEO, Everfuel, +45 2871 8945

Mads Tirsgaard Mortensen, Investor Relations Manager, Everfuel, mm@everfuel.com,
+45 77 30 47 27

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, Germany and Belgium, and a plan to grow across
Europe. Everfuel is listed on Euronext Growth in Oslo under EFUEL.

This information is subject to the disclosure requirements pursuant to Section 5
-12 the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

588365_20230424_Everfuel_Cancellation_of_subsequent_offering.pdf