Mr. Chris Stoddart reports

NEW FLYER SECURES ADDITIONAL ORDER OF 100 TRANSIT BUSES FOR WASHINGTON METRO

NFI Group Inc. subsidiary New Flyer of America Inc. customer Washington Metropolitan Area Transit Authority has exercised its second-year options under a five-year contract for 500 buses. The order includes 75 Xcelsior hybrid-electric 40-foot transit buses and 25 Xcelsior Charge NG battery-electric 40-foot transit buses. The options are being exercised from New Flyer's Q2 2026 backlog.

Funding for these buses is sourced from a mix of federal, state and local programs, including grants from the Federal Transit Administration's Low or No Emission grant program. The new buses will replace retiring fleet units, and are set to elevate passenger comfort and operational efficiency, aligning directly with Metro's five-year strategic transformation plan to become the region's premier choice for safe and efficient transportation.

"Metro's investment in our hybrid and battery-electric buses shows a strong commitment to efficiency and modernization," said Chris Stoddart, president of North American Bus and Coach at NFI. "We're proud to supply Buy America-compliant vehicles that support the agency's innovation goals and boost local manufacturing across the country."

"Our newest buses have enhanced safety features, give customers more room, improved comfort and the latest onboard features to enhance their travel experience," said Leroy Jones, chief operations officer, Metro. "These vehicles represent an important investment in a modern fleet that better serves our customers today while preparing us for the future."

Metro is recognized as the fifth-largest bus system nationwide, serving four million residents across 1,500 square miles spanning Washington, D.C., Maryland and Virginia. The Metrobus system operates with a fleet of 1,300 vehicles, servicing 7,500 stops across the region. This year, Metro is celebrating 50 years of service.

This purchase of low- and zero-emission buses continues Metro's progress under its five-year contract with New Flyer. In February, 2025, New Flyer announced a base order for 100 hybrid-electric buses, followed by the announcement of Metro's year 1 options in February, 2026, for an additional 75 Xcelsior 40-foot hybrid-electric buses and 25 Xcelsior Charge NG 40-foot battery-electric buses, strengthening Metro's battery-electric fleet already serving the region.

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 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 (TSX: NFI) and its convertible unsecured debentures trade under the symbol NFI.DB.

About New Flyer of America Inc.

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.

We seek Safe Harbor.