New Rise Renewables Reno Continues Its Production Ramp Following Upgrade Work; Recent Commercial Agreements Support Feedstock Supply, Logistics and Commercialization

HOUSTON, TX / ACCESS Newswire / July 28, 2026 / XCF Global, Inc. ("XCF") (NASDAQ:SAFX), an emerging U.S.-based producer of renewable diesel and sustainable aviation fuel ("SAF"), today issued the following letter to shareholders from Chief Executive Officer Chris Cooper. The letter connects XCF's recent operating and commercial announcements and provides additional context on the progress underway at New Rise Renewables Reno, including the market conditions that XCF believes may provide a constructive backdrop for renewable diesel production and commercialization.

Dear Shareholders,

Over the past several weeks, we have announced a series of developments across XCF. Taken together, we believe they reflect progress in the areas that matter most to our business: operating New Rise Renewables Reno safely and efficiently and establishing the commercial framework intended to support production.

Following the upgrade work completed ahead of restart, New Rise Renewables Reno is now operating at process temperatures approximately 40 degrees lower than under prior operating conditions. We believe this improvement demonstrates the value of the work completed by our team and may reduce the energy required to produce each gallon of fuel, which we believe could support lower energy costs and a lower carbon footprint as production ramps. Actual results may vary based on operating conditions and other factors.

This operating progress builds on XCF's previously announced commercial framework, which is intended to support feedstock supply, production coordination, logistics and commercialization at New Rise Renewables Reno. The facility subsequently began producing renewable fuels, with initial output in the form of renewable diesel. We intend to continue ramping production under the existing commercial framework, subject to operating performance, feedstock availability, customer demand and other factors, and we expect to provide additional updates as material operating and customer-delivery milestones are achieved.

This commercial progress comes as U.S. diesel futures have risen more than 85% since the start of 2026, according to a July 16 report by The Wall Street Journal. As geopolitical developments continue to influence global energy markets, we believe these market conditions may provide a constructive backdrop as XCF seeks to ramp renewable diesel production and commercialization; however, market conditions remain subject to change.

None of this progress happens without a team that has remained focused through a demanding process and shareholders who continue to support the Company. Thank you. We remain focused on disciplined execution and intend to continue providing updates as New Rise Reno's production ramp progresses.

Sincerely,

Chris Cooper
Chief Executive Officer, XCF Global, Inc.

About XCF Global, Inc.

XCF Global, Inc. ("XCF") is a U.S.-based producer of renewable diesel and sustainable aviation fuel ("SAF") focused on decarbonizing transportation while supporting domestic fuel supply and energy security. The Company's flagship facility, New Rise Renewables Reno, has a permitted nameplate production capacity of 38 million gallons per year. XCF intends to advance a pipeline of potential expansion opportunities in Nevada, North Carolina and Florida and to build relationships across the energy and transportation sectors that it believes could support the scaling of renewable fuels production. Any such opportunities remain subject to, among other factors, feasibility assessments, financing, regulatory approvals and market conditions. XCF is listed on the Nasdaq Capital Market and trades under the ticker SAFX.

Contacts

XCF Global: Corporate Communications
media@xcf.global

Cautionary Note Regarding Forward-Looking Statements

This Press Release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential" or "continue", or the negatives of these terms or variations of them or similar terminology. These forward-looking statements, including, without limitation, statements regarding XCF Global's expectations with respect to future performance and anticipated financial impacts of the recently completed business combination with Focus Impact BH3 Acquisition Company (the "Business Combination"), estimates and forecasts of other financial and performance metrics, and projections of market opportunity and market share, are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by XCF Global and its management, are inherently uncertain and subject to material change. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) changes in domestic and foreign business, market, financial, political, and legal conditions; (2) unexpected increases in XCF Global's expenses, including manufacturing and operating expenses and interest expenses, as a result of potential inflationary pressures, changes in interest rates and other factors; (3) the occurrence of any event, change or other circumstances that could give rise to the termination of negotiations and any agreements with regard to XCF Global's offtake arrangements; (4) the outcome of any legal proceedings that may be instituted against the parties to the Business Combination or others; (5) XCF Global's ability to regain compliance with Nasdaq's continued listing standards and thereafter continue to meet Nasdaq's continued listing standards; (6) XCF Global's ability to integrate the operations of New Rise and implement its business plan on its anticipated timeline; (7) XCF Global's ability to raise financing to fund its operations and business plan and the terms of any such financing; (8) the New Rise Reno production facility's ability to produce the anticipated quantities of SAF without interruption or material changes to the SAF production process; (9) the New Rise Reno production facility's ability to continue producing renewable diesel in commercial quantities without interruption as the Company advances its planned transition toward SAF production; (10) XCF Global's ability to resolve current disputes between its New Rise subsidiary and its landlord with respect to the ground lease for the New Rise Reno facility; (11) XCF Global's ability to resolve current disputes between its New Rise subsidiary and its primary lender with respect to loans outstanding that were used in the development of the New Rise Reno facility; (12) payment of fees, expenses and other costs related to the completion of the Business Combination and the New Rise acquisitions; (13) the risk of disruption to the current plans and operations of XCF Global as a result of the consummation of the Business Combination; (14) XCF Global's ability to recognize the anticipated benefits of the Business Combination and the New Rise acquisitions, which may be affected by, among other things, competition, the ability of XCF Global to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (15) changes in applicable laws or regulations; (16) risks related to extensive regulation, compliance obligations and rigorous enforcement by federal, state, and non-U.S. governmental authorities; (17) the possibility that XCF Global may be adversely affected by other economic, business, and/or competitive factors; (18) the availability of tax credits and other federal, state or local government support; (19) risks relating to XCF Global's and New Rise's key intellectual property rights, including the possible infringement of their intellectual property rights by third parties; (20) the risk that XCF Global's reporting and compliance obligations as a publicly-traded company divert management resources from business operations; (21) LOIs and MOUs may not advance to definitive agreements or commercial deployment; (22) the effects of increased costs associated with operating as a public company; and (23) various factors beyond management's control, including general economic conditions and other risks, uncertainties and factors set forth in XCF Global's filings with the Securities and Exchange Commission ("SEC"), including its most recent Form 10-K, filed with the SEC on March 31, 2026, this Press Release and other filings XCF Global made or will make with the SEC in the future. If any of the risks actually occur, either alone or in combination with other events or circumstances, or XCF Global's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that XCF Global does not presently know or that it currently believes are not material that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect XCF Global's expectations, plans or forecasts of future events and views as of the date of this Press Release. These forward-looking statements should not be relied upon as representing XCF Global's assessments as of any date subsequent to the date of this Press Release. Accordingly, undue reliance should not be placed upon the forward-looking statements. While XCF Global may elect to update these forward-looking statements at some point in the future, XCF Global specifically disclaims any obligation to do so.

SOURCE: XCF Global, Inc.

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