ReFuels Updated Investor Presentation

13 May 2026 15:10 CEST

13 May 2026 - ReFuels N.V. CEO Philip Fjeld presented yesterday, 12 May 2026,
at a capital markets event in London hosted by Foresight Environmental
Infrastructure Limited ("FGEN"), a FTSE 250 listed infrastructure investment
company. In connection with the event, ReFuels today published an updated
investor presentation.

ReFuels owns 40% of CNG Fuels. FGEN holds 25% of CNG Foresight Holdings Ltd,
which owns the remaining 60% of CNG Fuels, giving FGEN an effective economic
interest of 15% in CNG Fuels.

In connection with the capital markets event, FGEN disclosed its valuation of
CNG Fuels. Based on FGEN's disclosed valuation and effective ownership
interest, the implied 100% equity value of CNG Fuels is approximately GBP 313
million. This equates to an implied valuation of ReFuels' 40% stake in CNG
Fuels of approximately GBP 125 million (approximately NOK 1.6 billion based on
a GBP/NOK rate of 12.5).

Please find the presentation attached.

For further information, please contact:
Baden Gowrie-Smith, MD & CFO, Refuels N.V.
Tel.:+44 7768 007 009
E-mail: baden@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, ReFuels aims to have the capacity to
serve 20,000 heavy goods vehicles per day, with the long-term ambition of
becoming Europe's leading integrated supplier of alternative fuels for
commercial fleets. For further information, please visit www.refuels.com.

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673495_ReFuels Updated Investor Presentation.pdf
673495_ReFuels Investor Presentation May 2026.pdf