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    Summary mid – year update

    The directors of Motor Fuel Group are pleased to present a mid-year update for 2024.

    Trading in the first half of 2024 has been solid for the group and its directors are pleased with
    its performance. The main development in the first half of the year was the comple�on of the
    acquisi�on of the Morrisons petrol forecourt sta�on network. This transforma�onal deal has
    added 337 petrol sta�ons to the network and also includes more than 400 plots of land on the
    Morrison’s car parks to be developed into ultra rapid EV charging and valet centres. The
    acquisi�on completed on the 29th April and the integra�on of the petrol sta�ons into the MFG
    network which is going well and is on track to complete on schedule in the second half of the
    year. Work on the EV and valet development areas, on the Morrisons land acquired, is also
    due to commence in the second half of the year. The directors are pleased to report that during
    the integra�on exercise the group has remained profitable throughout and remains on track
    to deliver a strong performance for the full year.

    In line with MFG’s stated strategic aim, investment in the Electric Vehicle ultra-rapid charging
    infrastructure con�nues apace. Whilst the Morrisons acquisi�on gives access to an addi�onal
    na�onwide landbank, MFG con�nues to invest in the core network. At the end of June the
    Group had opened 184 EV sites providing 702 ultra rapid chargers across the UK. The program
    for the remainder of 2024 remains on schedule and MFG con�nues to lead the forecourt
    sector in its transi�on to a cleaner, decarbonised future.

    In addi�on to the EV development work, MFG con�nues its policy of redeveloping sta�ons to
    improve the overall customer experience. In support of this, the group con�nues to develop
    and expand its retail offering and its food to go outlets across a range of well-known brands.
    In support of the transi�on to a decarbonised economy all new MFG developments include
    various and appropriate energy efficient technology reducing the Group’s GHG emissions.

    As the second half of the year begins the macro-economic condi�ons con�nue to be
    challenging and uncertain. The Group however, is well placed to con�nue both its
    development programs and growth strategy. MFG has proved its resilience through the
    difficul�es of the past few years and the directors are confident that the Group will con�nue
    to perform, robustly and that the performance for the second half of the year will con�nue to
    be strong.

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