Mr. Stephen King reports

NFI ANNOUNCES ELECTION OF DIRECTORS

The 10 nominees listed in the management information circular dated March 20, 2026, were elected as directors of the board at NFI Group Inc.'s annual and special meeting of shareholders held on Friday, May 8, 2026. The detailed results of the vote for the election of directors held at the shareholder meeting are set out below.

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

After the meeting, the board appointed members of the various board committees as indicated in the table below:

About NFI Group Inc.

NFI is a leading independent global bus and coach manufacturer and a provider of aftermarket parts and service solutions. With more than 9,000 team members across 10 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-deck 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 around the world. 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 (symbol: NFI) and its convertible unsecured debentures trade under the symbol NFI.DB.