NFI Group Inc. (“NFI”), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, today announced that its subsidiary New Flyer of America Inc. (“New Flyer”) has received a new contract from San Mateo County Transit (“SamTrans”) for 10 next generation, battery-electric Xcelsior CHARGE NG^™ forty-foot heavy-duty transit buses. The order includes 20 ABB 150kWh plug-in chargers, project coordination, and commissioning by NFI Infrastructure Solutions™ to support the zero-emission bus (“ZEB”) deployment in San Mateo County. This order was included in NFI’s 2022 Q2 backlog.

SamTrans provides transportation services in San Mateo County and parts of San Francisco and Palo Alto, California, delivering nearly nine million bus rides annually on 70 bus routes.

Supported by Federal Transit Administration (“FTA”) funds, the order follows SamTrans’ 2021 purchase of seven Xcelsior CHARGE NG^™ forty-foot buses and propels the agency’s Sustainability Policy. The purchase also advances fulfillment of the California Air Resources Board’s (“CARB”) Innovative Clean Transit (“ICT”) regulation, requiring agencies to transition bus fleets to 100% zero-emission by 2040.

“SamTrans is one of ten California agencies to rely on our advanced battery-electric bus and infrastructure solutions to enable the transition to zero emission at scale,” said Chris Stoddart, President, North American Bus and Coach, NFI. “Since 1980, NFI has delivered 263 buses to SamTrans, providing safe and efficient transportation in the region. Today, the agency expands its fleet of Xcelsior CHARGE NG buses, which deliver immediate greenhouse gas reduction, extended range, and enhanced energy recovery.”

Introduced in 2021, the Xcelsior CHARGE NG^™ bus incorporates three distinct technology advancements, including high-energy batteries that extend range up to 13%, advanced protective battery packaging for easy install and simpler serviceability, and a new lightweight electric traction drive system with up to 90% energy recovery. For more information, visit newflyer.com/ng.

New Flyer’s zero-emission deployments are supported by NFI Infrastructure Solutions^™, providing safe and reliable infrastructure services for smart, sustainable mobility projects with over 280 chargers installed to date. For more information, visit nfigroup.com/IS.

NFI is a leader in zero-emission mobility, with electric vehicles operating (or on order) in more than 110 cities in six countries. NFI offers the widest range of zero-emission battery- and fuel cell-electric buses and coaches, and its vehicles have completed over 70 million EV service miles. Today, NFI supports growing North American cities with scalable, clean, and sustainable mobility solutions through a four-pillar approach that includes buses and coaches, technology, infrastructure, and workforce development. NFI also operates the Vehicle Innovation Center (“VIC”), the first and only innovation lab of its kind dedicated to advancing bus and coach technology and providing workforce development. Since opening in late 2017, the VIC has hosted over 300 interactive events, welcoming 5,000 industry professionals for EV and infrastructure training.

About NFI

Leveraging 450 years of combined experience, NFI is leading the electrification of mass mobility around the world. With 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 7,500 team members in nine 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 Limited (single and double-deck buses), Plaxton (motor coaches), 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 (trolley, battery, and fuel cell), natural gas, electric hybrid, and clean diesel. In total, NFI supports its installed base of over 105,000 buses and coaches around the world. NFI’s common shares trade on the Toronto Stock Exchange (“TSX”) under the symbol NFI and its convertible unsecured debentures trade on the TSX under the symbol NFI.DB. News and information is available at www.nfigroup.com, www.newflyer.com, www.mcicoach.com, www.nfi.parts, www.alexander-dennis.com, www.arbocsv.com, and www.carfaircomposites.com.

About New Flyer

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. Further information is available at www.newflyer.com.

Forward-Looking Statement

This press release may contain forward-looking statements relating to expected future events and financial and operating results of NFI Group that involve risks and uncertainties. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward-looking statements, and the differences may be material. Actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions and economic conditions of and funding availability for customers to purchase buses and to purchase parts or services; customers may not exercise options to purchase additional buses; the ability of customers to suspend or terminate contracts for convenience; production may be delayed or production rates may be decreased as a result of the pandemic or ongoing and future supply chain disruptions and shortages of parts and components, shipping and freight delays, and disruption to labor supply; and the other risks and uncertainties discussed in the materials filed with the Canadian securities regulatory authorities and available on SEDAR at www.sedar.com.

Due to the potential impact of these factors, the NFI Group disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

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