Clean Energy Reports Revenue of $117.6 Million and 67.4 Million RNG Gallons Sold for the First Quarter of 2026

About this update from Clean Energy Fuels Corp.

NEWPORT BEACH, Calif., May 07, 2026--(BUSINESS WIRE)--Clean Energy Fuels Corp. (NASDAQ: CLNE) ("Clean Energy" or the "Company") today announced its operating results for the first quarter of 2026. Financial Highlights Operational and Strategic Highlights Commentary by Clay Corbus, President and Chief Executive Officer "It was great to see our RNG volumes continue at a steady pace and rebound from last year. There is always extreme winter weather that can impact RNG production at dairies, and this year was no different - particularly in the upper Midwest - but we see a lot of progress being made with refinements to operating procedures to continually improve dairy RNG production. We’ve seen it with our dairies and see great efforts across the industry to keep the RNG volumes up and flowing. We are doing our part, with our most recent projects such as the East Valley project, in Idaho, and the South Fork project, in Texas, ramping up production. Additionally, at the end of the quarter the conflict in Iran and the resulting higher oil prices has driven up the price of diesel. Fleets are taking note of our much less volatile transportation fuel. Our results reflect some of these tailwinds of elevated oil and diesel prices, particularly in our revenues, compared to a relatively stable natural gas commodity market. We were very pleased with our first quarter results and feel good about our position in the geopolitical environment as it relates to offering a domestically supplied, low-cost sustainable transportation fuel that is available today." Summary and Review of Results The Company’s revenue for the first quarter of 2026 was decreased by $10.1 million of non-cash stock-based sales incentive contra-revenue charges ("Amazon warrant charges") related to the warrant issued to Amazon.com NV Investment Holdings LLC (the "Amazon warrant"), compared to Amazon warrant charges of $17.3 million in Q1 2025. Q1 2026 station construction revenues were $8.2 million versus $5.6 million of station construction revenues in Q1 2025. Revenue for Q1 2026 also included an unrealized gain of $0.6 million on commodity swap and customer fueling contracts relating to the Company’s Zero Now truck financing program, compared to an unrealized loss of $0.6 million in Q1 2025. Q1 2026 renewable identification number ("RIN") and...

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