ReFuels Q2 2026: Raised CNG Fuels FY2026 EBITDA guidance to GBP 10 12 million on record volumes considering uplisting or dual listing

28 Nov 2025 07:00 CET

28 November 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 for the fiscal second
quarter of and first half of 2026 ending on 30 September 2025.

Highlights:

* Dispensed volumes of biomethane across the CNG Fuels station network up 15%
year-over-year
* CNG Fuels' Q2 2026 EBITDA of GBP 2.9 million, up 190% from Q2 2025
* FY 2026 EBITDA expectation increased to GBP 10--12 million
(previously GBP 8--10 million)
* Fleet operators starting to introduce 6x2 CNG trucks, the preferred vehicle
class in the UK, into operations
* Three new high-capacity stations to be completed in 2026 supported by cash
flow and GBP 25 million debt facility
* ReFuels is considering uplisting from Euronext Growth Oslo or dual listing
during 2026 to expand its investor base and support long-term growth as a
cash-generating clean fuel platform

Philip Fjeld, CEO and co-founder of ReFuels, said:
"Biomethane is the preferred solution for decarbonising long-haul transport
today, requiring no subsidies and with lower fuel cost compared to all
alternatives. This is reflected in increased demand for Bio-CNG and a raised
full-year EBITDA guidance for CNG Fuels. The growing cash flow from operations
and our new debt facility is invested in new refuelling stations across the UK
to enable more fleets to shift from diesel and decarbonise, driving increased
future cash generation and returns. As a leading European clean fuels
infrastructure platform, we are also considering uplisting or dual listing
ReFuels in 2026 to attract new investors and increase liquidity as we execute
our profitable growth strategy."

The interim report and presentation are attached and available on
https://refuels.com/investor-relations/.

ReFuels will present the second quarter 2026 results today at 10:00 CET. 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.

For further information, please contact:

Philip Fjeld, CEO ReFuels N.V.
Tel: +44 7976 159 833
Email: Philip.Fjeld@refuels.com

Baden Gowrie-Smith, MD & CFO, ReFuels N.V.
Tel: +44 7768 007 009
Email: 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 the end of 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,
through the agency of the contact persons set out above, at 2025-11-28 07:00
CET.

More information:
Access the news on Oslo Bors NewsWeb site

660804_ReFuels Q2 2026 Report.pdf
660804_ReFuels Q2 2026 Presentation.pdf