ReFuels third quarter 2025: Steady volume growth, more value from certificates and increased capacity to meet higher demand

04 Mar 2025 06:00 CET

4 March 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
third quarter of 2025.

Key events in the period:

* 14,835 tonnes of renewable biomethane (Bio-CNG) dispensed in the quarter, up
18% compared to the same period last year
* Annualised EBITDA run rate across the station portfolio of GBP 6.5m in the
quarter; expected to be GBP >12m on delivery of existing customer orders
* Renewable Transport Fuel Certificates (RTFC) prices stabilising around
historical average
* Biomethane sourcing for 2025 is substantially complete, benefiting from
favourable market conditions and higher margins
* New station boosting refuelling capacity to over 10,000 HGVs and accelerated
demand for Mobile Refuelling Stations
* Bio-CNG is increasingly the preferred solution for decarbonising truck
fleets across the UK
* Term sheet signed with funds managed by Foresight Group to simplify the
group's ownership of station infrastructure and biomethane supply activities

"The massive interest across the UK sparked by the recent introduction of the
new larger 6X2 Bio-CNG fuelled trucks is a strong confirmation of fleet
operators' dedication to cutting emissions. To meet this demand, we opened our
15th grid-connected refuelling station this December and are preparing to
continue our expansion with four sites ready to be developed near our fleet
customers combined with accelerated demand for mobile refuelling stations.
Further, the market for sourcing biomethane in Europe is favourable, which
combined with certificate prices (RTFCs) having stabilised at a robust level,
underpins improved margins from our sourcing business," said Philip Fjeld, CEO
and co-founder of ReFuels.

ReFuels will present its third quarter 2025 results during a webcast at 10:00
CET today. The presentation will be held by CEO Philip Fjeld and CFO Baden
Gowrie-Smith. Please join the webcast 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 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 (http://www.refuels.com./).

This information has been submitted according to the Securities Trading Act §
5-12 and MAR Article 17. The information was submitted for publication at
2025-03-03 07:00 CET.

This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 17. The information was submitted for publication at
2025-03-04 06:00 CET.

More information:
Access the news on Oslo Bors NewsWeb site

640292_ReFuels Q3 2025 Report.pdf
640292_ReFuels Q3 2025 Presentation.pdf