(With reference to stock exchange release dated 27 October about Everfuel and
Hy24 A/S JV notified as marginal winner of the Danish Power-to-X tender for
production and supply of green hydrogen.)

Herning, Denmark, 20 November 2023 - Everfuel Hy24 A/S is pleased to announce
that the Joint Venture, as the marginal winner of the Danish Power-to-X tender
for green hydrogen production and supply, has been notified of an increase to
the support amount offered by Danish Authorities. The increased offer has a
value of DKK 211 million ( Euro 28,3 million).

The increase comes after another tender participant was unable to meet the
tender contract requirements.

The Danish Power-to-X 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 subsidy structure supplements the JV's strategy
to develop hydrogen production capacity. The offer is conditional of Everfuel
and Hy24 accepting the contractual conditions and the final agreement with the
Danish Energy Authorities. The JV will provide further information if it decides
to accept the support offer.

"The PtX tender is a confirmation of the Danish government's commitment to
developing the national hydrogen production and export potential. The Everfuel
Hy24 JV is well positioned to pursue this opportunity as part of our joint
strategy of making green hydrogen commercially available in key European
markets," says Jacob Krogsgaard, founder and CEO of Everfuel.

For more information regarding the tender, visit the Danish Energy Agency:
https://ens.dk/presse/energistyrelsen-traeffer-ny-afgoerelse-i-ptx-udbuddet-plug
-power-er-ikke-laengere-blandt

For additional information, please contact:

Jacob Krogsgaard | CEO | Everfuel | +45 2871 8945

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.

This information is considered inside information pursuant to the EU Market
Abuse Regulation and subject to the disclosure requirements of Section 5-12 of
the Norwegian Securities Trading Act. The stock exchange release was published
by Nicolaj Rasmussen, Business Development Director at Everfuel on 20 November
2023 at 14:20 CET.