The Fort Worth Press - XCF Global Highlights Strategic Relevance of Modular SAF Model in Australia as Asia Pacific Jet Fuel Prices Surge from ~$90 to ~$230 per Barrel, a ~155% Increase in Late Feb-Early March 2026

HOUSTON, TX / ACCESS Newswire / April 28, 2026 / XCF Global, Inc ("XCF") (NASDAQ:SAFX), an emerging player in the decarbonizing of the aviation industry through Sustainable Aviation Fuel ("SAF"), today highlighted the strategic relevance of its previously announced licensing agreement with New Rise Australia, as recent jet fuel supply disruptions bring attention to Australia's dependence on imported aviation fuel and heightened exposure to geopolitical risk.

Australia's aviation sector continues to rely heavily on long‑distance jet fuel imports routed through complex international supply chains, leaving the country exposed to both price volatility and supply disruption. In late February and early March 2026, geopolitical instability and refining constraints across the Asia‑Pacific region drove an unprecedented surge in jet fuel prices. Asia‑Pacific jet fuel benchmark prices, which underpin the pricing of fuel imported into Australia, rose from approximately $85-$90 per barrel in mid‑February to around $230 per barrel by early March, representing an increase of roughly 155% over a matter of weeks. These conditions have intensified cost pressures for airlines and renewed focus on Australia's limited domestic fuel reserves and exposure to external shocks.

Recent export restrictions and supply tightening among key Asian refining hubs have further underscored the fragility of Australia's import‑dependent fuel system. With approximately 80% of the country's jet fuel sourced from overseas, price spikes and availability constraints in regional benchmark markets can translate rapidly into higher operating costs and increased uncertainty for the aviation sector.

By enabling domestic SAF production through a modular, distributed model, XCF Global's licensed design supports a more resilient aviation fuel framework. Facilities can be developed closer to end‑market demand, airports, and feedstock supply, helping to reduce reliance on imported fuel priced off volatile international benchmarks. This approach is designed to mitigate exposure to global fuel price shocks, enhance supply reliability, and support long‑term aviation fuel security while advancing emission reduction objectives.

Since announcing the licensing agreement, XCF Global and New Rise Australia have continued to advance work under the modular SAF framework, with strong progress across early project planning, technical alignment, and commercial positioning. This includes completion of initial front-end engineering scoping, confirmation of the reference plant design based on XCF's proven Reno facility, and alignment on key process units and configuration tailored for Australian conditions.

The first project is proposed to be built in Perth, on Australia's Western Coastline, and is strategically positioned to leverage existing industrial infrastructure, port access, and proximity to feedstock supply chains. In parallel, the parties are progressing development pathways for additional facilities in Queensland and New South Wales, supporting a broader national rollout of SAF and renewable fuels capacity. This momentum is being underpinned by growing support from both Australian Federal and State Governments, with an increasing policy focus on fuel security and domestic fuel production.

Renzo Petersen, Managing Director of New Rise Australia, commented: "Progress to date reflects the strength of the partnership and the replicable nature of the XCF platform. Establishing Perth as the first Australian project is a critical step in building a sovereign sustainable fuels industry, and we are encouraged by the increasing alignment and support from government at all levels. This positions Australia to not only meet its own future fuel needs, but to build out further capacity in the Asia-Pacific region."

"Licensing a modular SAF blueprint allows production capacity to scale incrementally as demand develops, without committing to oversized, capital‑intensive infrastructure," said Chris Cooper, CEO of XCF Global. "The recent surge in jet fuel prices, where benchmark prices more than doubled in a matter of weeks, has reinforced that SAF is not only an emissions‑reduction solution, but an increasingly important tool for fuel security and price resilience, particularly in import‑dependent markets like Australia."

Strategic Benefits of the Modular SAF Model
Under the licensing agreement, the modular design is intended to:

• Enable phased capital deployment aligned with customer demand

• Accelerate project timelines through standardized facility design

• Improve fuel supply resilience by decentralizing production

• Support national energy security while lowering lifecycle emissions

As governments, airlines, and regulators increasingly prioritize fuel security alongside emissions reduction, scalable domestic SAF production is gaining relevance as a strategic infrastructure solution. The current jet fuel supply environment reinforces the value of XCF Global's modular approach, positioning its collaboration with New Rise Australia to support aviation fuel resilience in import‑dependent markets.

About XCF Global, Inc.
XCF Global, Inc. ("XCF") is an emerging sustainable aviation fuel company dedicated to accelerating the aviation industry's transition to net-zero emissions. Our flagship facility, New Rise Renewables Reno, has a permitted nameplate production capacity of 38 million gallons per year, positioning XCF as an early mover among large-scale SAF producers in North America. XCF is working to advance a pipeline of potential expansion opportunities in Nevada, North Carolina, and Florida, and to build partnerships across the energy and transportation sectors to scale SAF globally. XCF is listed on the Nasdaq Capital Market and trades under the ticker, SAFX.

To learn more, visit www.xcf.global

Contacts

XCF Global: Corporate Comms
[email protected]

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 produce renewable diesel in commercial quantities without interruption during the ongoing SAF ramp-up process; (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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