Opal Fuels (OPAL) investor relations material

Company overview and business model

• Vertically integrated in capturing and converting biogas into renewable power and renewable natural gas (RNG), with over 20 years of industry experience.

• Markets and distributes RNG to heavy-duty trucking and hard-to-decarbonize industrial sectors.

• Designs, develops, constructs, operates, and services fueling stations for natural gas and hydrogen, expanding its network nationwide.

• Principal biogas sources include landfill gas and dairy manure, with ongoing diversification into other waste streams.

Financial performance and metrics

• As of August 10, 2026, public float of Class A common stock was $52,148,998.20, with 30,290,963 shares outstanding and 20,057,307 held by non-affiliates.

• No dividends currently paid on Class A common stock.

• Financial statements for 2024 and 2025 audited by BDO USA, P.C.

Use of proceeds and capital allocation

• Net proceeds intended for general corporate purposes, including sales and marketing, operational costs, renewable energy and fueling station development, strategic transactions, working capital, and potential debt repayment or acquisitions.

• Management retains broad discretion over allocation of proceeds.