Mr. Matthew Lawrence reports

ALEXANDER DENNIS SECURES NEW POUNDS STERLING57M LIVERPOOL CITY REGION ORDER TO EXPAND CUSTOMER FLEET TO 400 VEHICLES

NFI Group Inc. subsidiary Alexander Dennis Ltd. has been selected by the Liverpool City Region Combined Authority as the supplier for at least 207 new low- and zero-emission buses in the latest round of vehicle procurement ahead of the region's start of franchised bus services.

The firm order is worth 57 million pounds sterling and includes 117 low-emission Enviro400 double-deckers, 60 low-emission Enviro200 single-deckers in two vehicle lengths, and 30 zero-emission Enviro100EVs. The contract includes options for additional vehicles. If fully exercised, these could increase the number of buses to 357 at an investment value of 95 million pounds sterling.

All new buses will be fully built or completed in Britain to the city region's high specification for the Metro bus network and delivered in 2027.

They will join 109 low-emission Enviro200s that are currently being delivered in time for the start of the first tranche of franchised services in St. Helens and the Wirral on Sept. 6, 2026, and 58 zero-emission Enviro400EV double-deckers that Liverpool City Region Combined Authority procured from Alexander Dennis earlier.

The Liverpool City Region's new Enviro400 and Enviro200 low-emission buses will use Alexander Dennis's SmartPack efficiency technology, which combines engine stop/start with e-cooling and auxiliary load management, to reduce emissions by 18 per cent to 24 per cent (1). They could be converted to electric operation in the future through the manufacturer's AD Repower service.

"We are completely renewing our fleet with ultramodern, accessible buses that give our residents the premium, reliable experience they deserve. This is about building a fully integrated transport network that is fit for the future. We are creating a system that connects our communities seamlessly -- making public transport the first choice for the 1.6 million people who call the Liverpool city region home," said Steve Rotheram, mayor of the Liverpool city region. "From autumn 2026, when St. Helens and Wirral lead the transition into public control, we will finally have the power to design a network that puts passengers first. Combined with our new battery-powered trains, electric buses and our brand new Mersey ferry, we are modernizing every corner of our transport network to drive our region forward."

"We are delighted that the Liverpool City Region found our bids to be the most commercially advantageous in four of the six lots available in this latest procurement, taking the total number of buses the city region has ordered from us for its franchised fleet to around 400," said Matthew Lawrence, head of franchising and bids for Alexander Dennis. "Work will soon begin to build these buses in our U.K. factories in the north of England and Scotland, showing how investment in bus franchising provides wider economic benefits for communities across the country. We are working closely with the social value team at Liverpool City Region Combined Authority to demonstrate the value being brought to the local area through these orders."

(1) The Alexander Dennis Enviro200 has demonstrated a 24-per-cent reduction and the Alexander Dennis Enviro400 an 18-per-cent reduction in fuel consumption and carbon dioxide equivalent emissions compared with conventional Euro V diesel buses over the United Kingdom Bus Cycle in Zemo Partnership low-emission bus testing.

About NFI Group Inc.

NFI is a leading global bus and motorcoach 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 (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 buses and coaches, referring to propulsion systems that do not utilize internal combustion engines, 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, and its convertible unsecured debentures trade under the symbol NFI.DB.

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