(With reference to stock exchange releases dated 27 October and 17 November
regarding Everfuel and Hy24 A/S joint venture (JV) named marginal winner and
subsequent increased support by the Danish Power-to-X tender for production and
supply of green hydrogen.)

Herning, Denmark, 15 December 2023 - Everfuel Hy24 A/S is pleased to announce
that the JV has signed the final agreement with the Danish Government in
relation to the Power-to-X tender for supporting production and supply of green
hydrogen.

The increased grant is valued at DKK 211 million ( Euro 28,3 million) following
the
revised offer provided by the Danish Energy Agency on November 17.

"Echoing previous statements, the Danish PtX tender is a confirmation of the
government's commitment to unfold the national hydrogen production and export
potential. We are very pleased with the tender process and the result for our
JV. The outcome further supports Everfuel and Hy24s joint ambition of
commercialising green hydrogen at scale," says Jacob Krogsgaard, founder and CEO
of Everfuel.

The tender's built-in subsidy is provided as support for operating expenses and
is recognised per kilogram of green hydrogen produced. The subsidy will run for
ten years and is dependent on the operational performance of the project.

The tender for large-scale green hydrogen production and supply is the first of
its kind and supports Denmark's power-to-X strategy to build upwards of 4-6 GW
electrolyser capacity.

For additional information, please contact:

Jacob Krogsgaard | CEO | Everfuel | +45 2871 8945
Mads Tirsgaard Mortensen | Investor Relations Manager | Everfuel |
mm@everfuel.com | +45 77 30 47 27
Elizabeth Adams | Senior Managing Director | FTI Consulting |
hy24@fticonsulting.com

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 Norway,
Denmark, Sweden, The Netherlands and Germany, and a plan to grow across Europe.
Everfuel is listed on Euronext Growth in Oslo under EFUEL.

About Hy24 | www.hy24partners.com

The world's largest clean hydrogen infrastructure fund results from the
initiative of Air Liquide, TotalEnergies and VINCI Concessions, combined with
the one of Plug Power, Chart Industries and Baker Hughes, which were sharing a
common objective to accelerate the development of the hydrogen sector with the
launch of the "Clean H2 Infra Fund".

The Clean H2 Infra Fund is managed by Hy24, a 50/50 joint venture between
Ardian, a world leading private investment house, and FiveT Hydrogen, a clean
hydrogen investment platform which enabled the gathering of the two initiatives.
The fund has also attracted additional anchor industrial partners such as LOTTE
Chemical, Airbus, and Snam, Enagás, GRTgaz (together as one Anchor partner) and
anchor financial investors such as AXA, Crédit Agricole Assurances, CCR,
Allianz, CDPQ, JBIC as well as other investors: Border to Coast Pensions
Partnership, the CMA CGM Group, ERAFP, Nuveen, Ballard, Schaeffler, Société
Générale Assurances, Groupe ADP, EDF, Norinchukin, Caisse des dépôts, DBJ,
Itochu, Groupama and BBVA. The fund is now up and running with  Euro 2 billion
of
allocations. Hy24 is an alternative investment fund manager regulated by the
Autorité des marchés financiers.

With strong industrial and financial expertise at its core, Hy24 will have a
unique capacity to accelerate the scaling up of hydrogen solutions along the
whole value chain: production, conversion, storage and supply and usage. Hy24
will support large early stage and strategic projects into becoming essential
energy infrastructures.