5/1 news release

XCF Global Continues New Rise Reno Planned Upgrade and Secures Forbearance Agreement Related to New Rise Renewables Reno Ground Lease

05/01/2026

Agreement continues through January 1, 2027, subject to specified conditions, supporting New Rise's planned upgrade path and operational progress.

HOUSTON, TX / ACCESS Newswire / May 1, 2026 / XCF Global, Inc. ("XCF") (NASDAQ:SAFX) an emerging player in lowering emissions and strengthening domestic renewable energy resilience of the aviation industry through Sustainable Aviation Fuel ("SAF"), today announced that New Rise Renewables Reno, LLC ("New Rise"), a subsidiary of XCF, has entered into a forbearance agreement dated April 27, 2026 (the "Agreement") with Twain GL XXVIII, LLC (the "Landlord") in connection with the ground lease for New Rise's Reno, Nevada facility.

New Rise Reno was commissioned in February 2025 and has produced SAF, renewable diesel, and renewable naphtha. Since the start of commercial operations in March 2025, the facility has produced more than 2.5 million gallons of renewable fuels. New Rise Reno is in the final stages of its planned upgrade, intended to strengthen long-term operability and repeatability. Current workstreams are focused on improving operating stability and equipment readiness, reinforcing quality systems required for certified fuel, and strengthening start-up and operating procedures. XCF is targeting a return to operations in June, subject to completion of upgrade activities and standard start-up procedures.

Under the Agreement, the Landlord agreed to forbear from exercising certain rights and remedies under the applicable lease documents with respect to certain alleged events of default through January 1, 2027, subject to New Rise's compliance with the terms and conditions of the Agreement including the required payments therein. For more information, please see the form of agreement filed today on Form 8-k.