Mr. Chris Stoddart reports

NFI ANNOUNCES SIGNIFICANT ORDER FOR UP TO 210 HIGH-PERFORMANCE NEW FLYER XCELSIOR(TM) BUSES FOR HOUSTON'S METRO

NFI Group Inc. subsidiary New Flyer of America has been awarded a new two-year contract from the Houston Metropolitan Transit Authority (METRO) for 160 Xcelsior 40-foot clean-diesel transit buses with options to purchase up to 50 additional buses. With this large order, NFI will add up to 210 buses to its backlog in the third quarter of 2023 for firm and option orders.

METRO is one of the largest transit agencies in the United States, and delivers more than 115 million annual passenger rides, providing transportation services to the city of Houston, most of Harris county and 14 smaller, surrounding cities known as multicities. In 2020, METRO was named the American Public Transportation Association's (APTA) Outstanding Public Transportation System of the Year, which marked its second award in five years.

"Since 1991, NFI has delivered over 1,765 vehicles to METRO, including New Flyer buses and MCI motor coaches, providing Houston communities with efficient, safe and reliable transportation. Building on over 30 years of partnership, NFI continues to support METRO with our advanced mobility solutions," said Chris Stoddart, president, North American bus and coach, NFI. "Our Xcelsior buses will positively impact Harris county and surrounding communities through their best-in-class features including accessibility, and an effective emissions control system that will provide Houston communities with cleaner, quieter and more efficient transportation."

The new high-performance buses will replace end-of-life vehicles in METRO's fleet and provide an enhanced passenger experience.

The Xcelsior buses conform to the Environmental Protection Agency and National Highway Traffic Safety Administration's comprehensive Heavy-Duty National Program, which reduces greenhouse gas emissions and fuel consumption for heavy-duty highway vehicles. New Flyer's technology combines ultralow-sulphur diesel fuel, advanced engines and effective emissions controls, resulting in a highly efficient bus with reduced emissions.

Today, NFI supports growing North American cities with scalable, clean and sustainable mobility solutions through its mobility solution ecosystem, which includes buses and coaches; infrastructure; parts and service; technology; work force development and training; and vehicle financing. NFI also operates the Vehicle Innovation Center (VIC), the first and only innovation lab of its kind dedicated to advancing bus and coach technology and providing work force development. Since opening in late 2017, the VIC has hosted over 350 interactive events, welcoming 7,000 industry professionals for electric vehicle and infrastructure training.

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-deck 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.

About New Flyer of America

New Flyer is North America's heavy-duty transit bus leader and offers the most advanced product line under the Xcelsior and Xcelsior Charge brands. It also offers infrastructure development through NFI Infrastructure Solutions, a service dedicated to providing safe, sustainable and reliable charging and mobility solutions. New Flyer actively supports over 35,000 heavy-duty transit buses (New Flyer, NABI and Orion) currently in service, of which 8,600 are powered by electric motors and battery propulsion and 1,900 are zero-emission.

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