Mr. Chris Stoddart reports

NEW FLYER RECEIVES ORDER FOR 100 ADDITIONAL TRANSIT BUSES FOR THE WASHINGTON METRO REGION

Washington Metropolitan Area Transit Authority (Metro) has exercised options for 75 Xcelsior hybrid-electric 40-foot transit buses and 25 Xcelsior Charge NG battery-electric 40-foot transit buses of New Flyer of America Inc., a leader in the transit industry and a subsidiary of NFI Group Inc. The options are being exercised from New Flyer's robust fourth quarter backlog.

The purchase will be supported by federal, state and local funding, as well as funds awarded through the Federal Transit Administration low- or no-emission grant program. The new buses will replace end-of-life vehicles and provide Metro customers with a modernized, efficient passenger experience, while also delivering on Metro's five-year strategic transformation plan, which focuses on becoming the region's trusted way to move people safely and efficiently.

"New Flyer is committed to continuing our decades-long relationship with Metro, providing buses that deliver strong value, reliability and performance," said Chris Stoddart, president of North American bus and coach at NFI. "As Metro phases out aging buses, New Flyer's Buy America-compliant, advanced hybrid and battery-electric vehicles will boost the efficiency, power and overall service quality of its transit system while fuelling good manufacturing jobs and economic opportunity across the United States."

"These new hybrid and battery-electric buses allow us to replace aging vehicles, improve the customer experience and continue modernizing our fleet while reducing emissions across the region," said Randy Clarke, general manager and chief executive officer of Metro. "Partnering with New Flyer helps ensure we're delivering safe, dependable service and demonstrating good financial stewardship."

Metro is America's fifth-largest bus network in the United States. It provides Metrorail and Metrobus transit services for more than four million people across 1,500 square miles in the District of Columbia, Maryland and Virginia. Metrobus operates a fleet of 1,500 buses and provides approximately 124 million annual trips. In 2025, Metro was named outstanding public transit agency of the year by the American Public Transportation Association.

This purchase of low- and zero-emission buses follows the base order of 100 New Flyer hybrid-electric buses announced in February, 2025, under the five-year contract and builds on Metro's existing battery-electric fleet already in service today.

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 over 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 Ltd. (single- and double-deck buses), 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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