XCF Global (Nasdaq:SAFX) Stockholders Approve Proposed Business Combination with DevvStream and Southern Energy Renewables

Company Update

Approval Advances Strategic Growth of XCF's Diversified Alternative Energy Platform and Marks a Major Milestone as the Parties Work Toward Closing as Soon as Practicable

HOUSTON, TX / ACCESS Newswire / October 6, 2026 / XCF Global Inc. ("XCF") (Nasdaq:SAFX), a growing U.S.-based producer of renewable diesel and sustainable aviation fuel ("SAF"), today announced that XCF stockholders have approved the proposals necessary to complete the previously announced business combination involving XCF, DevvStream Corp. (OTC PINK:DEVSF) ("DevvStream"), and Southern Energy Renewables Inc. ("Southern"). The approval represents a significant milestone in the proposed transaction and reflects shareholder support for the amended transaction structure previously announced by the parties.

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Highlights

• XCF stockholders approved the issuance of XCF common stock in connection with the proposed business combination. The transaction adds a future alternative fuel production technology pathway with lower feedstock cost and lower carbon intensity through Southern as well as an in-house environmental attribute monetization capability through DevvStream.

• XCF previously announced $1.0 million investment completed through the sale of warrants exercisable at $2.50 per share.

• The transaction is expected to close as expeditiously as possible as remaining closing requirements are satisfied.

"Today's vote is an important milestone for XCF in enhancing the strategic value of our business platform and a strong signal of support from our shareholders," said Chris Cooper, Chief Executive Officer of XCF Global. "We appreciate the confidence our shareholders have placed in us and look forward to closing the transaction as expeditiously as possible following the satisfaction of the remaining closing conditions under the Business Combination Agreement."

The proposed business combination is intended to bring together complementary capabilities across renewable fuels production, environmental asset monetization and energy infrastructure development. The combined platform is expected to pursue opportunities in sustainable aviation fuel, renewable fuels, environmental markets and related energy-transition sectors.

Following today's vote, XCF, DevvStream and Southern will continue working toward satisfaction of the remaining closing conditions under the amended Business Combination Agreement.

Completion of the transaction remains subject to the satisfaction or waiver of the remaining closing conditions. There can be no assurance that all closing conditions will be satisfied or that the transaction will be completed on the anticipated timeline, if at all.

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.