Mr. Paul Soubry reports

NFI'S ALEXANDER DENNIS OPENS LAS VEGAS MANUFACTURING FACILITY AND DELIVERS LOCAL ENVIRO500 DOUBLE DECKERS

NFI Group Inc. subsidiary Alexander Dennis Ltd. has celebrated the official opening of its U.S. manufacturing facility in Las Vegas. To commemorate the facilities launch, it handed over the first two of 10 new Enviro500 double-deck buses to the Regional Transportation Commission of Southern Nevada.

The opening of the new manufacturing facility is a significant milestone for Alexander Dennis as it will lead the development and production of double-deck buses for the North American market and support Southern Nevada's transportation and manufacturing industry. It is the only facility making double-deck buses in the United States, making Las Vegas a hub for cutting-edge transit solutions.

Among the first buses to be completed at the facility are 10 Enviro500 for the area's transit agency, RTC. NFI's president and chief executive officer, Paul Soubry, and Alexander Dennis president and managing director Paul Davies worked directly with RTC's CEO, M.J. Maynard-Carey, and her team to transition the first two vehicles in the fleet. The new buses will boost RTC's transit fleet on its Deuce on The Strip route.

The new Las Vegas assembly facility is owned and directly operated by Alexander Dennis, the manufacturer's legal entity in the United States. The company's investment of $15.3-million represents not only a commitment to innovation but is also testament to the strong partnerships Alexander Dennis builds with its local communities and the economic value it creates. The buses are buy America compliant, which means more than 70 per cent of the materials and components are sourced from United States-based suppliers. In Southern Nevada, ADI spent over $5.5-million spent directly with local suppliers over the past 12 months.

Double-decker production is currently one bus per week. This is expected to ramp up to 1-1/2 buses per week through 2026, allowing ADI to manufacture 75 vehicles per year.

As demand grows, there is opportunity to increase capacity within the existing facility with further investments and work force development, which could increase employment from over 115 local jobs initially. The roles support Nevada's economy while opening new career paths in manufacturing and transit.

The new Enviro500 buses for RTC Transit are 42 feet 5 inches (12.9 metres) long and 13 feet 6 inches (4.115 m) tall, and have capacity for 100 passengers. Fifty-one seats on the upper deck are easily accessed by two staircases, while the lower deck offers 15 more fixed seats, seven tip-up seats and spaces for two wheelchair users.

These 10 new double-deckers, built in Las Vegas, join 40 already in the RTC fleet that were manufactured in 2020 at Alexander Dennis's former manufacturing facility. Another 10 Enviro500 are on order for delivery next year and will again be built locally in Southern Nevada.

"The grand opening of the Alexander Dennis manufacturing facility is a proud moment for Southern Nevada and a testament to the power of strategic partnerships," said Ms. Maynard-Carey. "As the only site in the country building double-decker buses, this facility not only supports the RTC's mission to provide safe, efficient and innovative transit solutions, but it also brings quality jobs and economic investment to our region. We're thrilled to celebrate this milestone and the continued collaboration that helps keep Southern Nevada moving forward."

Mr. Davies said: "The opening of our new manufacturing facility secures the future of double-deck bus manufacturing in North America as we build on the Enviro500's success and respond to growing interest in this high-capacity transit solution. Alexander Dennis introduced the first double-deck buses to North America in 2000, and over 1,300 have been sold to transit agencies and tour operators since then.

"Today also marks the continuation and expansion of our great partnership with the Regional Transportation Commission of Southern Nevada. The RTC was the first U.S. transit agency to introduce double-deck buses in 2005. With our new manufacturing facility here in Las Vegas, we're now giving back to the local economy and creating value in Southern Nevada. We're very grateful for the support we have received, including the help of Big Rig Manufacturing in setting up this facility and its initial operations."

About NFI Group Inc.

Leveraging 450 years of combined experience, NFI offers a wide range of propulsion-agnostic bus and coach platforms, including market-leading electric models. Through its low- and 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 nearly 9,000 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 (referring to propulsion systems that do not utilize internal combustion engines, such as 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.

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