ReFuels Q1 2026: Mass-adoption of Bio-CNG continues CNG Fuels expects GBP 8 -10 million EBITDA for FY 2026

29 Aug 2025 06:30 CEST

29 August 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 first quarter of 2026 covering March to June 2025.

Highlights:

* First-quarter dispensed volumes of Bio-CNG up 8% sequentially and 17%
year-over-year
* More than 2,075 trucks using CNG Fuels' network -- steadily growing despite
overall declining HGV registrations in the UK
* Renewable Transport Fuel Certificates (RTFC) prices up 39% year-over-year to
26 pence as sustainable aviation fuel (SAF) demand tightens waste feedstock
markets
* Acquired 13 GWh biomethane production plant, becoming a fully integrated
provider of clean fuels
* Credit facility of GBP 25 million to finance station roll-out terms are
agreed and progressing towards signing
* CNG Fuels had an EBITDA of GBP 1.4 million in the quarter and expects GBP
8-10 million for the financial year 2026
* Fully equity-funded with clear path to grow refuelling capacity to 20,000
HGVs by end-2028

"The UK fleet of Bio-CNG fuelled heavy-goods vehicles is growing steadily
amidst a decline in overall truck registrations. This reflects renewable
biomethane's competitiveness, with a widening cost advantage to HVO biodiesel.
We are in pole position to capitalise on this shift through CNG Fuels' planned
doubling of refuelling capacity to 20,000 HGVs per day by end-2028, and we are
in the final stages of completing a GBP 25 million credit facility with our
partner Foresight for financing three new stations.

We are also integrating across the Bio-CNG value chain - from waste to wheel
-- through the recent acquisition of a Dutch biomethane plant. It complements
our UK refuelling network and adds sourcing optionality alongside long-term
offtake with large-scale producers," said Philip Fjeld, CEO and co-founder of
ReFuels.

ReFuels will present its first quarter 2026 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 fleet 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 the 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.

This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 17. The information was submitted for publication at
2025-08-29 06:30 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

654174_ReFuels Q1 2026 Presentation.pdf
654174_ReFuels Q1 2026 Report.pdf