EzFill Signs Definitive Agreement for the Purchase of Yoshi Mobility's Fuel Division

Agreement Expands EzFill's Operations to Four New States

Deal Expected to Close December 2

MIAMI, Nov. 25, 2024 (GLOBE NEWSWIRE) -- EzFill Holdings Inc. (NASDAQ:EZFL), a leading mobile fueling company, has signed a definitive agreement to acquire the fueling division of Yoshi, Inc. with the aim of expanding its U.S operations and presence.

Under the terms of the agreement, EzFill will acquire Yoshi Mobility's existing mobile fuel service assets and allows EzFill to begin operations in four new states: California, Tennessee, Texas, and Michigan. EzFill will integrate Yoshi's assets, operations and customers into its growing infrastructure. With this acquisition, EzFill plans to not only strengthen the company's footprint in its existing markets but also take advantage of EzFill's national customers and begin offering services to them in those markets. EzFill will immediately add diesel fueling to the services currently offered by Yoshi in those markets which the Company believes will immediately increase revenues in those areas. Additionally, EzFill hopes to initiate an aggressive national expansion plan, positioning itself as a leading player in the on-demand fueling sector.

Based in Nashville, Tennessee, Yoshi Mobility is a major mobility services provider backed by strategic investors such as General Motors Ventures, ExxonMobil, and Bridgestone Americas. These investments have played a pivotal role in establishing Yoshi Mobility as a trailblazer in the mobile fueling industry. As part of the Agreement Yoshi will become shareholders in EzFill.

"Since day one, we envisioned EzFill as a national leader in mobile fueling. With our strong foundation in Florida, now is the perfect time to scale our operations into additional states and this agreement represents a transformational step in that journey," said EzFill CEO Yehuda Levy. "Just as people expect on-demand services for groceries and packages, they now seek convenience and efficiency in fueling their vehicles. This acquisition allows EzFill to meet that demand head-on. Yoshi's excellent team and loyal customer base provide an incredible platform to help us accelerate our expansion and deliver industry-leading fueling services nationwide."

CEO and Co-Founder of Yoshi Mobility, Bryan Frist said, "Fuel delivery has been part of Yoshi since our early days. As we shift our focus towards solving growing pain points for our fleet customers, including mobile EV charging and virtual vehicle inspections, we're pleased to transition this part of the business to a terrific partner and leader in the industry. It's a true win-win for both companies and most importantly, for our customers." 

The acquisition reflects EzFill's ongoing commitment to providing convenient, cost-effective, and environmentally friendly mobile fueling solutions for consumers and businesses.

The definitive agreement contains customary closing conditions and is expected to close by December 2, 2024.

About EzFill

EzFill is a Miami-based on-demand mobile fueling service that provides fuel delivery directly to consumers and businesses, eliminating the need for traditional gas stations. As one of the largest mobile fuel delivery platforms in the United States, EzFill focuses on convenience, safety, and efficiency for its users. Visit us at ezfl.com.

About Yoshi Mobility

Yoshi Mobility is a tech-enabled mobility services provider. The company has completed millions of vehicle services through its network of certified mobile technicians who provide both on-site and virtual services including EV charging, virtual inspections, and preventative maintenance. To date, Yoshi Mobility has raised more than $60 million with investments from General Motors Ventures, Bridgestone, and ExxonMobil. Other investors include NBA All-Star Kevin Durant, NFL legend Joe Montana, and Y-Combinator in Silicon Valley.

Forward Looking Statements

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