CNG Services Assets Limited (“CSAL”), the second largest shareholder in ReFuels N.V. (the “Company”) and a shareholder since the Company’s inception and since CNG Fuels was established in 2014, currently holding 12,034,083 shares in the Company, equal to approximately 19.92% of the outstanding shares in the Company, hereby announces its intention to explore a potential sale of shares in the Company. CSAL has no active role in the Company's management, board of directors or operations.

CSAL has retained Arctic Securities AS and Pareto Securities AS (the “Managers”) to advise on the potential sale of all or parts of its holding of shares in the Company (the “Contemplated Sale”).

No decision has been made with respect to the final structure, timing or size of any potential transaction. The terms and conditions of any sale, including pricing and settlement mechanics, will be determined and communicated separately should CSAL elect to proceed with the Contemplated Sale. CSAL reserves the right, at its sole discretion, to sell fewer shares than contemplated herein, or to decide not to proceed with any sale whatsoever.

Interested parties who wish to express their interest in acquiring shares in the Company are invited to contact either of the Managers:

Arctic Securities: + 47 971 83 609 // + 47 417 07 205

Pareto Securities: +47 450 55 377 // + 47 228 78 750

More information regarding the Contemplated Sale, including further details on structure, timing and terms, will follow in due course.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Important Notices:

The Contemplated Sale will be carried out in accordance with applicable laws and regulations and information pertaining to the Contemplated Sale will be disclosed by way of stock exchange notices.

The Contemplated Sale and the distribution of this announcement and other information in connection with the Contemplated Sale may be restricted by law in certain jurisdictions (including, but not limited to, the United States, Canada, Australia and Japan). None of the Company or the Managers assume any responsibility in the event there is a violation by any person of such restrictions. This includes shareholders who have changed their domicile to such jurisdictions but which may access their ES-OSL accounts. Persons into whose possession this announcement or relevant information should come are required to inform themselves about and to observe any such restrictions.

The Contemplated Sale is not being made directly or indirectly in, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or any facilities of a national securities exchange of, the United States of America, its territories and possessions, any State of the United States and the District of Columbia (the "United States") or any other jurisdiction in which this would be unlawful, require registration or other measures. This includes, but is not limited to, facsimile transmission, internet delivery, e-mail and telephones. Copies of this release and any related documents are not being, and must not be, mailed, e-mailed or otherwise distributed or sent in or into the United States or any such jurisdiction and so doing may invalidate any purported offer and acceptance.