Mr. Stephen King reports

NFI ANNOUNCES RECEIPT OF SENIOR CREDIT FACILITY EXTENSIONS TO SUPPORT COMPREHENSIVE REFINANCING PLAN

NFI Group Inc. has received an extension of the date for the completion of the required amendments and the financial covenant waivers under the company's existing North American senior secured credit facility to Aug. 25, 2023, and Aug. 31, 2023, respectively, to support completion of NFI's previously announced comprehensive refinancing plan.

NFI has also received confirmation of the extension of the maturity date and financial covenant waivers under its senior secured United Kingdom credit facility to Aug. 31, 2023.

NFI expects to close all elements of the refinancing plan concurrently prior to Aug. 31, 2023.

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 Ltd. (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.

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