XCF Global, Inc. Enters into $1.12 Million Promissory Notes

On October 22, 2025, XCF Global, Inc. entered into two separate promissory notes with institutional lenders, each in the principal amount of $560,000, for an aggregate principal amount of $1,120,000. Each note includes an original issue discount of $60,000, resulting in net proceeds of $500,000 per note ($1,000,000 in aggregate). The notes bear no interest except upon an event of default, at which point interest accrues at 12% per annum on overdue amounts. The notes mature three months from disbursement, which is conditioned upon the filing of a registration statement with the SEC. The company is required to apply 50% of net proceeds from sales of common stock under a purchase agreement to repay the notes on a pro rata basis. The notes also contain mandatory prepayment provisions requiring immediate repayment using proceeds from any debt issuances other than permitted debt.