Mr. John Sapp reports

NFI ANNOUNCES ROB MARION AS PRESIDENT OF MOTOR COACH INDUSTRIES

NFI Group Inc. has selected Rob Marion as the new president of Motor Coach Industries (MCI). Mr. Marion will start his new role effective today, April 2, 2026, reporting directly to NFI's president and chief executive officer, John Sapp.

Mr. Marion joined New Flyer in 1994, and, during his three decades with the organization, has assumed advancing responsibilities for facilities engineering, production, manufacturing engineering and part fabrication. Most recently, Mr. Marion served as vice-president of fabrication, where he led operational excellence, quality and continuous improvement, and performance for all North American internal part fabrication and subassembly operations (including New Flyer, MCI, KMG and Carfair Composites), together supporting NFI bus and coach manufacturing.

NFI's former president and CEO, Paul Soubry, had served as interim president of MCI until his retirement in January, 2026, and Mr. Marion's appointment now establishes a dedicated president for the business, taking full ownership of MCI's sales, engineering, manufacturing, service and support functions.

In 2020, NFI combined its New Flyer and MCI businesses into one operating unit, reflecting the financial impact of the COVID-19 pandemic and the associated global supply chain challenges. These activities were completed with a focus on streamlining operations while also strengthening engineering, supply and product development platforms during a period where MCI experienced lower market demand.

"Today's announcement represents a natural and strategic time to re-establish MCI as its own dedicated business, allowing New Flyer and MCI to both focus on what they do best. MCI has seen significant market recovery, with the launch of new vehicle models, harmonized production lines and an expanded service offering. Rob's deep operational experience, long-standing commitment to NFI, and three decades of hands-on operational leadership, with oversight of 10 facilities and over 2,000 team members, make him the ideal person to lead the next chapter of MCI," said Mr. Sapp. "Rob will champion MCI's efforts in delivering the highest-quality and most reliable coaches in the market and will work closely with the leadership team on a detailed transition. Our public and private customers can be confident that MCI is in very capable hands."

Mr. Marion earned a manufacturing engineering technology diploma from Red River College, a chartered manager (CMgr) designation from the Canadian Institute of Management and the University of Manitoba, a production and inventory management certificate from the Association for Operations Management, in addition to certified engineering technologist (CET), certified in management (CIM), and certified in production and inventory management (CPIM) designations. He is an expert in lean manufacturing, holding a certified blackbelt accreditation through LEAN Sensei International and the Canadian Manufacturers and Exporters Association. Additionally, Mr. Marion serves on the board of directors for the CWB Welding Foundation.

"I'm very excited to take on the opportunity to lead North America's largest motorcoach manufacturer. MCI vehicles move thousands of people safely and reliably across the U.S. and Canada every single day," said Mr. Marion. "As I step into the role, I want to continue our history of performance while ensuring we drive changes to increase our quality, customer experience and aftermarket support. Working with the best team in the industry, I know that we'll live up to our reputation of being the preferred partner for private and public motorcoach operators."

About NFI Group Inc.

NFI is a leading independent global bus and coach manufacturer and a provider of aftermarket parts and service solutions. With more than 9,000 team members across 10 countries and operations spanning over 40 facilities, NFI delivers a comprehensive portfolio of bus and coach platforms.

Through its brands New Flyer (heavy-duty transit buses), MCI (motorcoaches), Alexander Dennis Ltd. (single- and double-deck buses), ARBOC (low-floor cutaway and medium-duty buses) and NFI Parts, NFI supports a diverse and extensive portfolio, serving public transit, commuter and coach markets. In total, NFI supports an installed base of more than 100,000 buses and coaches worldwide. NFI offers a broad range of propulsion systems, 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 advanced diesel technologies, providing agencies with multiple fleet technology options. NFI's common shares trade on the Toronto Stock Exchange under the symbol NFI and its convertible unsecured debentures trade under the symbol NFI.DB.

About Motor Coach Industries (MCI)

MCI is North America's leading manufacturer of public and private market motorcoaches. Products include the luxury J series (an industry best-seller for more than two decades), the workhorse D series, and the zero-emission J4500 Charge, D45 CRT Charge and D45 CRT LE Charge. MCI also provides maintenance, repair, 24-hour roadside assistance, parts and technician training through the industry's only Automotive Service Excellence (ASE) accredited and award-winning MCI Academy .