Mr. Stephen King reports

NFI ANNOUNCES ELECTION OF DIRECTORS

The 10 nominees listed in the management information circular dated March 21, 2025, were elected as directors of the board at NFI Group Inc.'s annual and special meeting of shareholders, held on Friday, May 9, 2025. The detailed results of the vote for the election of directors held at the shareholders meeting are set out in the attached table.

Final voting results on all matters voted on at the shareholders meeting will be available on the company's website, and will be filed with the Canadian securities regulators and available on SEDAR+.

About NFI Group Inc.

Leveraging 450 years of combined experience, NFI offers a wide range of propulsion agnostic bus and coach platforms, including market leading electric models. Through its low- and 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 nearly 9,000 team members in 10 countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer (heavy-duty transit buses), MCI (motorcoaches), Alexander Dennis Ltd. (single- and double-deck buses), Plaxton (motorcoaches), 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 100,000 buses and coaches around the world. NFI's common shares trade on the Toronto Stock Exchange under the symbol NFI and its convertible unsecured debentures trade on the TSX under the symbol NFI.DB.