Public Release Phase: Understanding the Process and Preparing for Participation

The journey begins with the release of the draft contract documents, which provide the legal, technical, and financial framework for the auction. These documents serve as the foundation for participation and should be thoroughly reviewed by all interested bidders.

To facilitate engagement, Hintco hosts the H2Global Roadshow, a series of virtual and hybrid events where potential bidders can ask questions and gain insights.

During the public release phase, potential bidders are motivated to provide written feedback on the contract terms.

This phase lasts approximately 10 weeks, during which all interested parties should carefully study the requirements and engage in discussions during the roadshow to clarify any uncertainties.

Application Phase: Submitting a Request to Participate

Once the contract documents have been reviewed and refined, the next step is officially applying to participate in the auction. At this stage, candidates must submit a Request to Participate, which includes verification of their eligibility criteria.

To qualify, bidders must provide inter alia:

• Proof of commercial registration and financial stability (credit rating, equity ratio, or bid bond).
• A preliminary project description outlining the production, transport, and delivery of RFNBOs (Renewable Fuels of Non-Biological Origin).
• A declaration confirming compliance with State-aid regulations and that no final investment decision has been made before the submission.

This phase lasts approximately 8 weeks, during which candidates must ensure that all required documents are submitted correctly.

Negotiation Phase: Refining the Terms Before Bidding

Once applications have been reviewed and eligibility confirmed, successful candidates move to the negotiation phase. During this period, Hintco organizes one-on-one online meetings with bidders to discuss contract terms affecting commercial viability and pricing.

While major contract terms remain fixed, justified feedback from bidders may lead to refinements, ensuring that the final terms are balanced and commercially viable. After negotiations, Hintco publishes the final set of contract documents, which will serve as the official basis for all bids.

The duration of this phase is to be determined (TBD), depending on the complexity of discussions and refinements needed.

Bidding Phase: Submitting a Binding Offer

With the final contract documents in place, bidders must prepare their binding bids, specifying the terms under which they are willing to supply hydrogen, ammonia, or methanol. Each bid must include inter alia:

• A fixed yearly price per MWh of RFNBO delivered to Hintco.
• A committed annual supply volume.
• An optional annual maximum supply volume, which Hintco may choose to purchase if additional funds become available.
• An updated detailed project description outlining the production, transport, and delivery of RFNBOs.
• Supporting documentation to demonstrate feasibility and compliance.

Bids are binding and cannot be modified once submitted. Since there is no indexation of prices, bidders must carefully calculate their cost structure to remain competitive.

The deadline for submission of bids is expected to be March 2026. The final deadline will be communicated well in advance, allowing at least 8 weeks for bidders to finalize submissions.

Evaluation Phase: Selection and Contract Award

Following the submission of bids, Hintco evaluates each proposal based on two key factors:

1. Price Competitiveness (90%) – The volume-weighted average contract price is the primary scoring factor.
2. Additional Supply Commitment (10%) – Bidders who offer additional optional volumes receive additional points for their bid.

Once the top-ranked bids are identified, they undergo an Excess Return Check, requiring bidders to submit a profitability calculation verified by an independent auditor. This ensures that no speculative pricing occurs and that projects are financially sustainable.

Additionally, successful bidders must provide pre-certification of their project through an EU-recognized voluntary scheme, confirming compliance with RFNBO sustainability requirements.

Once all verifications are completed, Hintco formally awards the Hydrogen Purchase Agreements (HPA), officially securing the contracts for delivery. The first shipments of RFNBO must commence within five years of contract award.