Herning, Denmark, 8 May 2024 - Everfuel A/S is pleased to announce the signing
of a Letter of Intent (LoI) with a large industrial offtaker in Germany for the
supply of up to 10,000 tons of green hydrogen per year from 2028.

The undisclosed customers' initial demand is expected to match the hydrogen
output from an operationally optimised 100 MW electrolyser, aligning with
Everfuels' strategy of developing standardised, scalable electrolyser modules
tailored to demand. The customer expects to increase consumption of green
hydrogen, classified as Renewable fuels of non-biological origin (RFNBO), over
time in accordance with its plans for decarbonising industrial processes.

"This is a validation of Everfuel's focused strategy for delivering green
hydrogen at scale to industrial customers and I would like to acknowledge our
partner's ambition to pioneer the hydrogen transition in Germany. We share a
strong commitment to enabling material carbon emission reductions and creating a
platform for mutual long-term value creation," said Jacob Krogsgaard, founder
and CEO of Everfuel.

The German partner understands Denmark's significant potential for green
hydrogen export and recognises Everfuel's unique strategic position and plans
for establishing hydrogen production capacities in the attractive Danish power
zone DK1.

Everfuel may supply the RFNBO hydrogen from project Sif or other future
electrolyser projects under development. The LoI is the first step towards a
final commercial agreement between the parties, which is conditional upon
several factors, including the establishment of hydrogen pipeline infrastructure
between Denmark and Germany connecting Everfuel's production facility and the
customer.

 "On 5 April 2024 the Danish government announced that it is willing to take
majority of the investment risk of the Danish hydrogen backbone if market
participants provide sufficient commitment. Today's agreement is a cross-border
confirmation of the willingness from Everfuel and partner to show such a
commitment. The 5 May 2024 Everfuel responded to Energinet's (Danish TSO) market
exploration deadline for backbone capacity reservation. Everfuels indication of
capacity reservation included a significant commitment, which also includes the
German industrial offtaker, and is showing Everfuel dedication to make large
scale green hydrogen production and distribution happen," said Jacob Krogsgaard,
founder and CEO of Everfuel.

"Developers like Everfuel work hard to mature portfolios of scalable projects to
ensure production capacity and redundancy in our operations to verify industry
commitments. It is crucial for Everfuel and our partners to understand the
timing and cost associated with using the upcoming infrastructure. We look
forward to continuing the dialogue with Energinet in the process to firm
backbone capacity commitments scheduled for second half of 2025," Jacob
continued.

RFNBO is considered a critical enabler for decarbonising industry and transport
sectors in Germany, in line with EU's Renewable Energy Directive (RED II)
targets.

For further information, please contact:

Jacob Krogsgaard, CEO, Everfuel, +45 2871 8945
Mads T. Mortensen, Director of Investor Relations & Communication, Everfuel,
mm@everfuel.com, +45 7730 4727

About Everfuel | www.everfuel.com

Everfuel is making green hydrogen for zero emission industry and mobility
commercially available across Europe, offering competitive all-inclusive
hydrogen supply and fuelling solutions. We own and operate green hydrogen
infrastructure and partner with industry and vehicle OEMs to connect the entire
hydrogen value chain and seamlessly provide hydrogen fuel to enterprise
customers under long-term contracts. Green hydrogen is a 100% clean energy
carrier made from renewable solar and wind power and key to decarbonising
industry and transportation in Europe. We are an ambitious, rapidly growing
company, headquartered in Herning, Denmark, and with activities in Denmark,
Sweden, The Netherlands and Germany, and a plan to grow across Europe. Everfuel
is listed on Euronext Growth in Oslo under EFUEL.