OPAL Fuels Announces Agreement to Sell $11.1 Million of IRA Investment Tax Credits Page 1

OPAL Fuels Inc. (Nasdaq: OPAL), a vertically integrated leader in the capture and conversion of biogas into low-carbon intensity renewable natural gas (“RNG”) and renewable energy, today announced the sale of approximately $11.1 million of Inflation Reduction Act (“IRA”) investment tax credits to an affiliate of Apollo Global Management, Inc., a leading provider of alternative asset management and retirement solutions. This sale represents OPAL Fuels’ interest in the investment tax credits generated by the Emerald RNG Facility, a joint venture that is 50% owned by OPAL Fuels.

The Inflation Reduction Act, signed into law in August 2022, provides for the issuance of transferable federal income tax credits for certain renewable fuel projects and products. The sale is OPAL Fuels’ first IRA tax credit transaction.