Mr. Chris Stoddart reports

NFI SUBSIDIARY NEW FLYER RECEIVES SIGNIFICANT ORDER FROM OTTAWA-CARLETON'S OC TRANSPO FOR 124 XCELSIOR Charge NG(TM) BUSES

NFI Group Inc. has received a significant order from OC Transpo in Ottawa. The order includes 124 Xcelsior Charge NG 40-foot battery-electric transit buses, further advancing OC Transpo's commitment to fleet electrification and sustainable transit. This order is an option off New Flyer's 2023 agreement with the Toronto Transit Commission and was part of New Flyer's first-quarter 2025 backlog.

"With over 1,100 New Flyer buses delivered to OC Transpo over the past 35 years, New Flyer is positioned to continue to shape the future of public transit in Canada's capital with our next-generation electric solutions," said Chris Stoddart, president, North American bus and coach, NFI. "This follow-up order from OC Transpo highlights our commitment to ensuring competitive delivery timelines so that transit riders can access the new fleet in 2026."

These new buses build on OC Transpo's initial order of 51 Xcelsior Charge NG buses, placed in late 2023 -- bringing the agency's total investment in New Flyer's electric bus platform to 175 vehicles. The purchase is paid for through a combination of local investment and federal support from the Canada Infrastructure Bank and Housing, Infrastructure and Communities Canada's (HICC) Zero Emission Transit Fund (ZETF).

OC Transpo's network of buses and the O-Train system plays a vital role in connecting communities across Ottawa and Gatineau, Que. This order marks another major step in delivering cleaner, quieter and more efficient public transportation to riders across the National Capital Region.

About New Flyer Group Inc.

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.

We seek Safe Harbor.