Mr. Chris Stoddart reports

SUFFOLK COUNTY TRANSIT CHOOSES NFI'S NEW FLYER TO MODERNIZE FLEET WITH 132 NEXT-GENERATION BUSES

NFI Group Inc. subsidiary New Flyer of America Inc. has been awarded a contract from Suffolk County Transit for up to 132 buses over the next five years, including 92 Xcelsior hybrid-electric 35-foot buses and 40 Xcelsior Charge NG battery-electric 40-foot buses, the county's first step toward adopting a more energy-diverse and efficient transit fleet. This order was added to New Flyer's backlog in the first quarter of 2025.

This latest order adds to the 73 New Flyer Xcelsior hybrid-electric 35-foot buses already in service with Suffolk County Transit and reinforces a strong, continuing partnership between Suffolk county and New Flyer -- built on American manufacturing, reliable performance and job creation. By once again choosing New Flyer's proven platform, Suffolk is investing in efficient operations, streamlined maintenance and supporting high-quality manufacturing jobs in the United States.

"This order underscores the value of our platform's flexibility and dependability," said Chris Stoddart, president, North American bus and coach, NFI. "New Flyer's common Xcelsior platform enables agencies to operate hybrid and battery-electric buses with shared parts, tools and training -- delivering real operational savings while maintaining consistent, high-quality performance."

Suffolk County Transit operates a robust network of fixed routes, on-demand zones and paratransit service in Suffolk county, New York. These new buses will improve service reliability, passenger comfort and long-term operating efficiency for residents across the county.

New Flyer is a long-time leader in American bus manufacturing, delivering innovative transit solutions that help agencies meet the challenges of aging fleets, rising fuel costs and evolving rider expectations. With over 265 million miles of electric bus service experience, New Flyer brings tested technology and real-world insight to every delivery.

In addition to vehicle manufacturing, New Flyer supports its partners with a full suite of services -- including parts, infrastructure planning, work force development and financing -- ensuring transit agencies have what they need to succeed.

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 (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.

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