ReFuels Updates on Acquisition of Station Portfolio and Financing

ReFuels Updates on Acquisition of Station Portfolio and Financing

Issuer

Refuels N.V.

Reference is made to the third quarter FY2024 financial reporting dated 29
February 2024, and that ReFuels N.V. ("ReFuels" or the "Company"), one of
Europe's leading suppliers of renewable biomethane (Bio-CNG) for the
decarbonisation of heavy goods vehicles, is considering various financing
alternatives concerning the long-term station development funding.

ReFuels has progressed discussions with its joint venture partner, investment
funds managed by Foresight Group, about acquiring the remaining part of the
station portfolio, comprising 12 of ReFuels' 13 stations in operation and two
stations in-build across the UK. Assuming full control of the existing station
infrastructure and associated cash flows will significantly simplify ReFuels
company structure.

To support the strategic initiative, ReFuels is currently exploring the
possibility of raising approx. GBP 150 million (equivalent) of funding through
a combination of equity and debt issuance. This is anticipated carried out as
a private placement of equity as well as debt facility/bond of up to 50% of
the capital requirement.

The Company is also progressing 5 attractive higher-capacity station locations
expected to be ready for construction, increasing the total capacity to more
than 13,000 HGVs and 440,000 tonnes Bio-CNG per year. The mid-term target is
to have 30-40 stations across the UK.

ReFuels has mandated Arctic Securities AS and Pareto Securities AS as managers
(the "Managers") to assist and advise the Company in connection with the
potential equity and debt capital placements. Additionally, Longspur Capital
Ltd has been retained as a selling agent for the potential equity placement.
The timing, structure and size of any fundraising will be subject to, inter
alia, prevailing market conditions and necessary corporate resolutions, and no
assurance can be given that the Company will carry out any fundraising and/or
the acquisition of the station portfolio.

In connection with the fundraising process, ReFuels has published an updated
company presentation. The presentation is attached to this release and is also
available on the Company's investor webpage. More information about the
potential transactions will be published in due course if and when
appropriate.

For further information, please contact:

Philip Fjeld, CEO ReFuels N.V.
Tel: +44 7976 159 833
E-mail: [email protected]

About ReFuels
ReFuels is decarbonizing 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. In the mid-term,
the target is to have 30-40 stations across the UK, 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 (http://www.refuels.com/) (http://www.refuels.com./).

This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 19 no. 3. The information was submitted for publication
at 2024-04-16 06:00 CEST.

More information:
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615842_ReFuels Updates on Acquisition of Station Portfolio and Financing.pdf
615842_ReFuels Company Presentation 16 April 2024.pdf