XCF Global Backs Southern Energy Renewables' LOI With Hapag-Lloyd for Green Methanol Project Development and Long-Term Offtake as Strategic Fit for Pending Business Combination With Southern Energy Renewables and DevvStream Corp

HOUSTON, TX / ACCESS Newswire / May 13, 2026 / XCF Global Inc. (Nasdaq:SAFX), an emerging renewable fuels company focused on sustainable aviation fuel ("SAF"), today announced its support for Southern Energy Renewables Inc.'s recently announced letter of intent with Hapag-Lloyd AG as further validation of the strategic rationale for XCF's pending business combination with Southern Energy Renewables and DevvStream Corp.

As previously disclosed, XCF, Southern Energy Renewables and DevvStream have entered into a definitive business combination agreement to create an integrated energy transition platform spanning sustainable aviation fuel, green methanol and environmental attribute monetization, subject to customary closing conditions.

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XCF believes Southern's LOI with Hapag-Lloyd points to rising demand from global shipping and logistics customers for lower-carbon fuel options backed by long-term supply planning and infrastructure development. While the LOI is nonbinding and remains subject to further negotiations and conditions, the announcement reflects the type of commercial opportunity the combined company would seek to pursue if the transaction is completed.

"The Southern-Hapag-Lloyd LOI reflects the kind of customer demand and long-range decarbonization planning that helped shape our decision to pursue this transaction," said Chris Cooper, CEO of XCF Global. "If completed, the combination would bring together capabilities across fuels, infrastructure and environmental markets, giving customers a more practical way to access lower-carbon solutions at scale."

Under the proposed transaction, the combined company would connect low-carbon fuel production, including SAF and green methanol, with environmental attribute monetization, commercial offtake development and infrastructure investment. XCF said that approach could give airlines, shipping companies and other corporate customers more flexibility as they respond to regulatory requirements, energy security needs and sustainability goals.

The proposed business combination remains subject to shareholder approvals, regulatory clearances and other customary closing conditions, and there can be no assurance it will be completed on the terms currently contemplated, or at all.

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