Mr. John Sapp reports

NFI GROUP HOSTS RIBBON-CUTTING CEREMONY TO OFFICIALLY OPEN NEW FLYER'S ALL-CANADIAN BUILD FACILITY IN WINNIPEG

NFI Group Inc., along with its subsidiary New Flyer Industries Canada ULC, is celebrating a major milestone in Canadian manufacturing with the official ribbon cutting of its new customer acceptance and delivery facility in Winnipeg.

Today's event marks the next phase of NFI's continuing manufacturing expansion, following significant federal and provincial investment, alongside NFI's internal funding. The CAD facility enables NFI to complete full domestic production of heavy-duty transit vehicles, including zero-emission buses, in Winnipeg for the first time in 15 years.

The ribbon cutting follows national attention on NFI's Canadian expansion, which further supports Manitoba's leadership position as a hub for heavy-duty manufacturing. Construction of the CAD facility began in late 2024, and the first buses entered production in September, 2025. NFI was proud to deliver the first all-Canadian build to customer Durham Transit in December, 2025. This facility expands New Flyer's production capacity by up to 240 equivalent units per annum by 2027, with four line entries expected per week. It also enables New Flyer's U.S. facilities to increase their focus on supporting production for customers across America, creating a win-win for both regions.

"We are extremely proud to officially open our new facility that achieves a strategic goal of enabling complete, start-to-finish Canadian bus manufacturing for Canadian customers," said John Sapp, president and chief executive officer, NFI Group. "This is a major milestone for our company, the province and the country as it creates hundreds of highly skilled jobs and a stronger domestic supply chain, alongside enhanced zero-emission production capabilities."

"Canada is world-renowned for its manufacturing strength and highly skilled work force," said Melanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions. "New Flyer's new facility will design, engineer and build the transit buses that Canadians rely on -- right here in Winnipeg. This investment will continue to create hundreds of well-paying jobs and strengthen our domestic supply chain through an all-Canadian manufacturing hub."

"The world has changed, and Canada must strengthen its domestic capacity in critical industries. Today's ribbon cutting in Winnipeg marks a defining moment in Canadian manufacturing, and our government is pleased to have supported those efforts. For the first time in 15 years, buses built by Canadians, for Canadians, will be manufactured -- from start to finish -- on Canadian soil. On behalf of Canada's new government, congratulations to New Flyer and all involved in the all-Canadian build initiative. This is building Canada strong in action," said Eleanor Olszewski, Minister of Emergency Management and Community Resilience and Minister responsible for Prairies Economic Development Canada.

"This project is about putting a made in Canada stamp on the low-carbon economy. Here in Manitoba, blue-collar workers are helping drive a safe and healthy future, and companies like NFI are leading the charge," said Premier Wab Kinew. "By bringing full bus manufacturing back to Winnipeg, this facility strengthens our domestic supply chain, creates good jobs and reinforces Manitoba's position at the cutting edge of zero-emission transportation technology."

"In a world where supply chains and countries are looking inward, Manitoba is stepping up to the plate with homegrown solutions. Because we have what Canada needs -- the workers, the innovation and the determination, and today's ribbon cutting showcases this as New Flyer celebrates the all-Canadian build, where buses for Canadians are built by Canadians on Canadian soil, right here in Winnipeg. Congratulations to all who have worked to make this vision a reality," said Ginette Lavack, parliamentary secretary to the Minister of Indigenous Services and member of Parliament for St. Boniface-St. Vital, Man.

Today's ribbon cutting event included Ms. Joly, Ms. Lavack, Ben Carr, member of Parliament for Winnipeg South Centre, Manitoba Premier Mr. Kinew, City of Winnipeg mayor Scott Gillingham, Cutric president and chief executive officer Dr. Josipa Petrunic, Mr. Sapp, former NFI president and CEO Paul Soubry, Unifor western regional director Gavin McGarrigle, and leadership from the IAM Union.

About NFI 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.

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 (motor coaches), Alexander Dennis Ltd. (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 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.