Ms. Melissa Schnee reports

BC TRANSIT PARTNERS WITH ALEXANDER DENNIS FOR FLEET UPGRADE WITH ORDER OF 41 NEW ENVIRO500 DOUBLE-DECKERS

NFI Group Inc. subsidiary Alexander Dennis Ltd. has confirmed that it has received a firm order for 41 Enviro500 double-deck buses from BC Transit in British Columbia, Canada. The order was added to the company's firm backlog in Q1 2026.

BC Transit is a provincial Crown corporation that delivers public transportation services throughout British Columbia, excluding the Greater Vancouver area. Servicing more than 1.9 million people and 130 communities across B.C., the agency transports more than 54 million people annually.

The new buses will replace older vehicles that have reached the end of their operational life and will continue to integrate double-decker buses into the BC Transit fleet.

Each Enviro500 will accommodate up to 80 seated passengers, delivering high seating capacity while maintaining a compact road footprint.

BC Transit was the first transit service in North America to introduce double-decker buses in 2000, and it has continued to invest in double-deckers ever since. Victoria fleet currently includes approximately 50 Alexander Dennis double-decker buses, with additional buses being introduced throughout this year.

"NFI and BC Transit have worked in partnership for more than 40 years with a shared commitment to ensuring comfortable, safe and efficient transit for commuters in British Columbia," said Talha Wasif, general manager, North America, Alexander Dennis. "We are excited to work with BC Transit once again by providing Alexander Dennis's Enviro500 double-decker buses that are renowned for exemplary passenger capacity."

"Double-decker buses have been a defining symbol in our capital city since the year 2000, with Victoria becoming the first place in North America to operate double-decker buses for public transit," said Erinn Pinkerton, president and chief executive officer for BC Transit. "The original 10 buses were Dennis Trident models manufactured by Alexander Dennis. BC Transit is proud that, a quarter of a century later, we continue to purchase double-decker buses from Alexander Dennis -- a testament to the strong relationship between us."

The contract adds to Alexander Dennis's order book and reflects ongoing demand for the Enviro500 platform, while supporting BC Transit's efforts to expand capacity and enhance passenger experience across the province.

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- 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.

About Alexander Dennis Ltd.

Alexander Dennis is a world-class manufacturer of double-decker buses for the North American market and the only producer of double-deck buses on the continent. Operating from its manufacturing facility in Las Vegas, Nev., Alexander Dennis designs and builds its Enviro500 double-deck buses for transit authorities across the United States and Canada. As a subsidiary of NFI Group, Alexander Dennis combines global engineering expertise with local manufacturing to deliver high-capacity, efficient and proven transit solutions for communities throughout North America.

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