Mr. Stefan Baguette reports

LOTHIAN BUSES INVESTS IN CAPACITY WITH ORDER FOR 60 NEW VOLVO B8L TRI-AXLES WITH ALEXANDER DENNIS ENVIRO400XLB BODIES

NFI Group Inc. subsidiary Alexander Dennis is working with Volvo Buses to build 60 new tri-axle double-deckers for award-winning Scottish bus operator Lothian Buses.

The operator has placed a firm order with Volvo Buses for 60 new low-emission double-deck buses based on the efficient B8L chassis, which Alexander Dennis will body with its Enviro400XLB design.

Lothian's new buses will have three axles and a length of 42 feet (12.8 metres), around 4.3 feet (1.3 m) longer than most of the operator's two-axle double-deckers.

The extra length will be used to offer inclusive and accessible spaces for passengers on the lower deck, including two wheelchair and buggy spaces alongside priority seating. Passengers will board and alight at the front of the bus, allowing a high seating capacity to be maintained.

The majority of the new Enviro400XLB will be used to meet rising demand in the East Coast Buses and Lothian Country operations, which connect East and West Lothian to the Scottish capital. The Airlink 100 service between Edinburgh Airport and the city center will also benefit from the fleet investment.

"Lothian is delighted to once again be working in partnership with Volvo and Alexander Dennis, building on our long-standing relationships to deliver new double-deck vehicles for our capital city," said Dylan Dastey, engineering director at Lothian Buses. "Since launching our driving towards net zero decarbonization strategy in 2023, we have remained firmly focused on achieving our long-term sustainability ambitions. At the same time, we continue to invest in renewing and modernizing our fleet to ensure we provide safe, reliable and high-quality services for our customers, both now and in the years ahead. This investment reflects our ongoing commitment to delivering the best possible customer experience, while supporting our wider ambition to fully decarbonize the fleet over the coming years."

"We're delighted to be part of this Lothian Buses-led collaboration, which will deliver a new fleet of double-deckers for the Scottish capital and neighbouring areas. We welcome Lothian's support for British design, engineering and manufacturing, and the impact that this project will have on jobs and the supply chain," said Paul Davies, president and managing director at Alexander Dennis. "We're also delighted to be continuing our long-standing relationship with Volvo and look forward to continuing our partnership to expand our range across the U.K. market."

"We are building on the co-operation that we have had back in 2018, which has been a successful project. We have a flexible business model working together with different bodybuilders, and this is one example. The Volvo B8L is already a well-proven chassis and is in service in many cities, both in the U.K. and other countries," said Domenico Bondi, managing director of Volvo Bus U.K. & Ireland.

The collaboration between Lothian Buses, Volvo and Alexander Dennis builds on successful earlier work between the three companies, under which 78 Alexander Dennis Enviro400XLB on Volvo B8L chassis -- built to a different specification -- were supplied to Lothian Buses in 2018 and 2019.

Lothian Buses also plans to order 40 zero-emission double-deckers from the two manufacturers, with Alexander Dennis placing its next-generation Enviro400EV body on the Volvo BZL electric chassis. Procurement of these vehicles is subject to confirmation of grant funding allocation to Lothian Buses from the Scottish government's third-round Scottish Zero-Emission Bus Challenge Fund (ScotZEB3).

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 ten 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 Alexander Dennis

Alexander Dennis is a leading manufacturer of double-deck and lightweight buses. The company's next-generation zero-emission buses are tailored to operators' requirements and have been independently confirmed to be among the most efficient electric buses in the market. Alexander Dennis also offers low-emission buses that use advanced load management to deliver competitive total cost of ownership for customers. All Alexander Dennis products are backed up by comprehensive AD24 aftermarket support including parts, field service, workshops, technical publications, training and the AD Connect telematics suite.

Alexander Dennis builds on 130 years of heritage and today has team members at 16 facilities in 10 countries as well as partner locations. It is a proud part of leading independent global bus and coach manufacturer NFI Group.

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