XCF Global Announces Agreement to Acquire Paramount, California Renewable Fuel Production Facility

Mergers and Acquisitions

Acquisition further expands XCF's alternative energy platform with the proposed addition of ~50 million annual gallons of sustainable aviation fuel, renewable diesel and renewable naphtha production capacity, strategically located in Southern California close to Los Angeles International Airport.

• Acquisition is expected to be accretive to XCF shareholder value, with XCF management's annual targets of $600 million in gross product sales, $100 million in net revenue and $40 million in EBITDA, following a 9-12-month restart period1.

• Paramount location is first commercial-scale renewable jet-fuel (SAF) production facility in US and is well positioned logistically with refining, blending, storage, logistics, rail and truck terminal facilities along with interests in more than 65 miles of pipeline assets.

HOUSTON, TX / ACCESS Newswire / October 20, 2026 / XCF Global Inc. ("XCF") (Nasdaq:SAFX), a growing U.S.-based producer of renewable diesel and sustainable aviation fuel ("SAF"), today announced that it has entered into a definitive agreement to acquire a renewable fuel production facility in Paramount, California through a newly formed subsidiary of XCF, New Rise Renewables Paramount, LLC.

Located less than 20 miles south of downtown Los Angeles, the Paramount facility builds on the site's long history in fuel production and its transition to renewable fuels, bringing together established infrastructure, technical expertise and domestic agricultural waste to energy processing technology. The site is strategically located near Los Angeles International Airport (LAX), which is one of the world's busiest and most strategically important aviation hubs, serving more than 76 million passengers annually. Its immense scale, global connectivity, and strategic importance position LAX at the forefront of the aviation industry's transition toward sustainable aviation fuel (SAF). XCF intends to welcome the experienced team at Paramount following the closing of the acquisition, with plans to more than double the size of the team to restart operations over the next 9-12 months.

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Paramount was the first U.S. refinery conversion from fossil fuels to renewable fuels and has a long and successful history of renewable fuel production. The facility has benefited from meaningful investment over its history, and XCF expects to invest ~$30 million during the restart period primarily in support of work-force training and operational readiness. XCF intends to capitalize on its strategic partnership with BGN to supply feedstock to New Rise Renewables Paramount as the operation relaunches and to offtake the sustainable fuels that the facility produces in support of the company's aviation and transportation customers.

"The Paramount acquisition represents an additional exciting opportunity to meaningfully expand XCF's vertically integrated alternative fuel platform through the acquisition of premier refinery infrastructure and operational leadership," said Chris Cooper, Chief Executive Officer of XCF Global. "We're very pleased to have the opportunity to take over the stewardship of this important renewable fuel production facility and bring on board the outstanding team of professionals dedicated to its success. We look forward to working with the Paramount team and the community to successfully relaunch operations as New Rise Renewables Paramount and safely, reliably and conscientiously produce transportation fuel that supports our mission to reduce carbon emissions, enhance domestic energy resilience and afford alternative uses for US agricultural waste-products."

The acquisition is expected to close before the end of 2026, subject to agreed closing conditions. XCF has been advised in the transaction by BTIG, Paul Hastings LLP, Marsh, Alvarez & Marsal and AECOM.

1 Gross product sales is an estimate by XCF management of the dollar value of the finished renewable fuel product sales in the end-customer markets. XCF believes that this is an important and relevant metric regarding the sales value of the company's products when comparing XCF to other companies. XCF management defines this as the number of gallons of renewable fuel sold by the Company during a period multiplied by the average observed or derived price in the end-customer market for each product during a period, including government incentives, feedstock, processing and logistics. EBITDA is defined as net income (loss) before interest expense, income tax expense (benefit), depreciation and amortization*.*

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 up to 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 symbol SAFX. To learn more, visit xcf.global