Mr. Paul Davies reports

NFI ANNOUNCES ADDITIONAL ORDER FROM GO-AHEAD LONDON FOR 141 ELECTRIC BUSES FROM THE BYD-ALEXANDER DENNIS PARTNERSHIP

NFI Group Inc. subsidiary Alexander Dennis Ltd. and BYD U.K.'s electric vehicle partnership has taken a repeat order from Go-Ahead London for a further 141 battery-electric buses, taking the total to be delivered to the operator during 2023 to 299 vehicles.

This new order follows Go-Ahead London's success in winning contracts for bus routes tendered by Transport for London. Transport for London's vision is to accelerate the delivery of an entirely zero-emission bus fleet by 2030, a target that requires continued government investment.

In total, 169 BYD-Alexander Dennis Enviro400EV double deckers and 130 BYD-Alexander Dennis Enviro200EV single deckers are expected to be supplied by the end of 2023, with deliveries already under way. All the double deckers will be 10.8 metres long, while the single deckers will be built to three different lengths of 9.6 metres, 10.2 metres and 10.9 metres to suit different route profiles and passenger volumes.

All the electric buses on order will benefit from the collective expertise of BYD and Alexander Dennis. The buses combine BYD's world-leading iron-phosphate battery technology and innovation in highly integrated electric powertrains developed for safety, efficiency and reliability, with the renowned expertise of Alexander Dennis for quality bodywork and assembly.

They will take the total number of BYD-Alexander Dennis electric buses in the Go-Ahead London fleet to 577, confirming the company as the largest operator of the partnership's clean buses.

More than two-thirds of all zero-emission buses currently in service or on order for Transport for London routes have been supplied by the BYD-Alexander Dennis partnership.

Go-Ahead London engineering director Richard Harrington said: "As the capital's largest, and most experienced electric bus company, we are in the process of introducing around 300 zero-emission vehicles this year. This pace of innovation would not be possible without dependable industry partners like BYD and Alexander Dennis, who are building these new buses to our exacting specification. This now includes an eye-catching new interior with high-backed seats and additional amenities, which is proving very popular with the travelling public."

BYD U.K. managing director Frank Thorpe said: "We are very pleased to support Go-Ahead London once again with another significant electric bus order, as it continues to expand its zero-emission fleets. It underlines how effectively BYD-Alexander Dennis buses are providing an efficient and reliable solution for operators seeking to introduce more ecofriendly bus services. BYD is dedicated to developing innovative and effective EV technology for a more sustainable future and to see how operators, such as Go-Ahead, are embracing electric and making the green dream come alive."

Alexander Dennis president and managing director Paul Davies said: "We're delighted that the largest single operator of electric buses in the U.K. has again chosen the BYD-Alexander Dennis partnership. This takes the number of our zero-emission buses in the Go-Ahead London fleet to well over 500, representing a stunning vote of confidence in these reliable, cost-effective buses. We look forward to continuing to develop our relationship with Go-Ahead London and supporting the further electrification of its fleet."

NFI is a leader in low- and zero-emission mobility, with vehicles operating in 13 countries, moving millions of people every day. NFI offers the widest range of vehicles, including clean diesel, compressed natural gas, diesel electric hybrids, and zero-emission battery- and fuel cell-electric buses and coaches.

About NFI Group Inc.

Leveraging 450 years of combined experience, NFI is leading the electrification of mass mobility around the world. With zero-emission buses and coaches, infrastructure, and technology, NFI meets today's urban demands for scalable smart mobility solutions. Together, NFI is enabling more livable cities through connected, clean and sustainable transportation. With 7,700 team members in 10 countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer (heavy-duty transit buses), MCI (motor coaches), Alexander Dennis (single- and double-deck buses), Plaxton (motor coaches), Arboc (low-floor cutaway and medium-duty buses) and NFI Parts. NFI currently offers the widest range of sustainable drive systems available, including zero-emission electric (trolley, battery and fuel cell), natural gas, electric hybrid and clean diesel. In total, NFI supports its installed base of over 100,000 buses and coaches around the world. NFI's common shares trade on the Toronto Stock Exchange under the symbol NFI and its convertible unsecured debentures trade on the TSX under the symbol NFI.DB.

About Alexander Dennis Ltd.

Alexander Dennis is a global leader in the design and manufacture of double-deck buses and is also the United Kingdom's largest bus and coach manufacturer. Alexander Dennis offers single- and double-deck vehicles under the brands of Alexander Dennis and Plaxton, and has over 31,000 vehicles in service in the U.K., Ireland, Europe, Hong Kong, Singapore, New Zealand, Mexico, Canada and the United States.