Mr. Stephen King reports

NFI ANNOUNCES COMPLETION OF C$350 MILLION SENIOR UNSECURED NOTES OFFERING

NFI Group Inc. has completed its previously announced private offering of $350-million aggregate principal amount of senior unsecured notes due 2033 of the company.

As previously stated, NFI is using the net proceeds from the offering of the notes to repay certain indebtedness, including a portion of the amounts outstanding under its senior revolving credit facilities and certain other existing indebtedness. NFI intends to redraw amounts under the first lien senior credit facility in January, 2027, in order to repay the outstanding aggregate principal amount of the company's existing convertible debentures.

About NFI Group Inc.

NFI is a leading global bus and motorcoach manufacturer and a provider of aftermarket parts and service solutions. With more than 9,000 team members across ten 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- 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 worldwide. 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 (TSX: NFI) and its convertible unsecured debentures trade under the symbol NFI.DB.

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