CERTARUS PROVIDES CORPORATE UPDATE

CALGARY, AB, July 7, 2022 /PRNewswire/ - Certarus Ltd. ("Certarus" or the "Corporation"), the North American leader in on-road low carbon energy solutions, is pleased to provide a corporate update.

Certarus' adjusted EBITDA through the first five months of 2022 was $45 million, which represents a 58% increase over the same period in 2021. This record financial result reflects increased customer activity combined with a strong pricing environment. The Corporation will announce Q2 financial results in August.

Certarus has safely delivered record volumes of compressed natural gas ("CNG"), renewable natural gas ("RNG") and hydrogen year-to-date and expects to average deliveries of approximately 59,000 MMBtu per day for the first half of 2022 – a 30% improvement over the same period in 2021. This increase in volumes is the result of accelerating adoption of low carbon fuels and an expanding application base for the Certarus platform.

As a result of the record operating and financial performance achieved through the first five months of 2022, Certarus is providing a full year 2022 adjusted EBITDA forecast of $100 million. This compares to $62 million for 2021 – an approximately 60% increase year-over-year. This growth in adjusted EBITDA is underpinned by increased efficiencies and utilization of assets across Certarus' coast-to-coast North American platform.

Capital spending is expected to be approximately $100 million in 2022. The adjusted EBITDA forecast assumes no incremental equity funding. Going forward, the Corporation targets spending within cash flow and plans to continue to achieve strong attractive organic growth rates and competitive financial returns as the market leader in low carbon energy solutions.

Year-to-date, Certarus has taken delivery of approximately 30 new mobile storage units and has advanced several new strategic hubs in Canada and the US. Certarus anticipates taking delivery of an additional 80 mobile storage units before the end of 2022, bringing the total fleet – the largest in North America – to almost 650 units.

The Board of Directors of Certarus (the "Board") has concluded its previously announced strategic review. The Board has decided, in light of the Corporation's record operating and financial results and present market conditions, that its strategy of operating as a private company and delivering organic growth provides the greatest value creation opportunity for its shareholders.

Certarus is the North American leader in providing on-road low carbon energy solutions through a fully integrated CNG, RNG, and hydrogen platform. Certarus safely delivers clean burning fuels to energy, utility, agricultural and industrial customers not connected to a pipeline. By displacing more carbon intensive fuels, Certarus is leading the energy transition and helping customers lower operating costs and improve environmental performance. With the largest fleet of mobile gas storage units in North America, Certarus is uniquely positioned to meet the growing demand for low and zero-emission energy distribution.

For more information, visit www.certarus.com.

Certain statements contained in this news release constitute forward-looking statements within the meaning of applicable securities laws. These statements relate to future events or Certarus' future performance. All statements contained in this news release other than statements of historical fact may be forward-looking statements. Forward-looking statements are not facts, but only predictions and generally can be identified by the use of statements that include words or phrases such as, "anticipate", "believe", "continue", "could", "estimate", "expect", "intend", "likely", "may", "project", "predict", "propose", "potential", "might", "plan", "seek", "should", "targeting", "will", and similar expressions or the negative forms thereof. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Certarus believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon by readers, as actual results may vary materially from such forward-looking statements. These statements speak only as of the date of this news release and are expressly qualified, in their entirety, by this cautionary statement. In particular, this news release contains forward-looking statements pertaining to: the expected timing of the Corporation's announcement of Q2 financial results; the volume of CNG, RNG and hydrogen expected to be delivered in the first half of 2022; the adjusted EBITDA expected to be realized by the Corporation in 2022; capital spending by the Corporation in 2022; the absence of incremental equity funding in 2022; targeted capital spending within cash flow; the organic growth rates and financial returns to be realized by the Corporation;  the number of mobile storage units that the Corporation expects to take delivery of and the timing of such deliveries; and the value creation opportunity for shareholders created by Certarus remaining a private company.

Some of the risks which could affect future results and could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to, the impact of general economic and market conditions, the impacts of the COVID-19 pandemic, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, competition from other industry participants, the lack of availability of qualified service providers, personnel or management, the Corporation's ability to access sufficient capital from internal and external sources, regulatory changes, the Corporation's inability to obtain required consents, permits or approvals and the risk that actual results will vary from the results forecasted and such variations may be material.

With respect to the forward-looking statements contained in this news release, management has made assumptions regarding, among other things: that preliminary financial and operational results available at the time of this news release are accurate and will remain accurate through the remainder of Q2; counter party risk; that there will be no material change to the regulatory environment in which Certarus operates; activity levels of the Corporation's customer base; retention of the Corporation's customers and key personnel; utilization rates of the Corporation's assets and efficiency of operations; and the Corporation's ability to generate cash flow consistent with historical cash flow generation.

Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation's actual results, performance or achievement could differ materially from those expressed in or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Corporation will derive therefrom.

The forward-looking statements contained in this news release are made as of the date hereof. Certarus disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Additionally, Certarus undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

UNAUDITED FINANCIAL INFORMATION
Certain financial and operating information included in this news release is based on estimated unaudited financial and operational results and is subject to the same limitations as discussed under Forward-Looking Statements, set out above. These estimated amounts may change upon the completion of audited financial statements for the year ended December 31, 2022 and changes could be material.

SOURCE Certarus Ltd.