Mr. Chris Stoddart reports

RTC OF SOUTHERN NEVADA EXERCISES OPTION FOR 50 MORE LOW-EMISSION BUSES FROM NFI SUBSIDIARY NEW FLYER

New Flyer of America Inc., a leading provider of diverse and sustainable mobility solutions and subsidiary of NFI Group Inc., has confirmed that the Regional Transportation Commission of Southern Nevada is exercising options for 19 60-foot and 31 40-foot Xcelsior compressed natural gas buses. This order was included in NFI's fourth quarter 2025 firm backlog.

Valued at approximately $56-million, the options are part of two five-year contracts with RTC, supported by local and Federal Transit Administration funds, and meet Buy America requirements supporting manufacturing jobs in the United States. The low-emission buses in this order will replace end-of-life vehicles, ensuring efficient, safe, clean and sustainable transit for the region's 64 million annual riders.

"For more than three decades, New Flyer and RTC have partnered to deliver efficient and reliable transportation options tailored to the community's evolving needs, delivering over 900 buses to date, with more than 500 utilizing low-emission CNG propulsion," said Chris Stoddart, president, North American bus and coach, NFI. "Xcelsior CNG buses offer an extended range of 350 to 400 miles. They are the ideal solution to meeting the demands of Southern Nevada commuters."

RTC serves as Southern Nevada's transit authority and transportation planning agency, tasked with addressing transportation challenges and exploring and implementing both short- and long-term solutions. Its mission includes promoting sustainability, improving air quality, enhancing mobility and elevating the quality of life in the region.

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 over 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), 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 (referring to propulsion systems that do not utilize internal combustion engines, such as 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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