Mr. Stephen King reports

NEW FLYER AWARDED BUY AMERICA-COMPLIANT ORDER FROM DENVER RTD SUPPORTING U.S. MANUFACTURING AND EAST COLFAX BRT

NFI Group Inc. subsidiary New Flyer of America Inc. has received a firm order from the Regional Transportation District (RTD) in Denver, Colo., for 47 Xcelsior 60-foot clean-diesel heavy-duty transit buses. The order was added to New Flyer's second-quarter 2026 backlog.

The contract also includes options for up to 80 additional 60-foot buses (160 equivalent units, or EUs), which may be exercised in the future.

The order is financed through local funding sources. The buses are Buy America-compliant and will be manufactured in the United States, supporting domestic jobs, strengthening the North American supply chain and ensuring federal transit investments continue to deliver economic benefits to American communities.

The articulated buses will support RTD's, the City of Denver's, and the City of Aurora's East Colfax Bus Rapid Transit (BRT) project, one of the Denver region's largest transit investments, with passenger service anticipated to begin in early 2028. Designed to enhance passenger flow and accessibility along the high-capacity corridor, the buses will feature a three-door configuration for faster boarding and alighting, level boarding to improve accessibility and reduce dwell times, and interior bicycle racks to support multimodal travel.

"Public transit investments are also investments in American manufacturing," said Chris Stoddart, president, North American bus and coach, NFI. "This order reflects RTD's commitment to modernizing its fleet while supporting U.S. jobs through Buy America-compliant manufacturing. We are proud to continue our long-standing partnership with RTD by delivering buses that will help serve one of the region's most important high-capacity transit corridors."

"RTD's investment in these new buses is about delivering a better customer experience along one of the region's most important corridors," said Angel Pena, RTD deputy chief executive officer. "The East Colfax Bus Rapid Transit project will improve safety, reliability, accessibility and connections to opportunity for the communities we serve. We appreciate New Flyer's partnership in providing Buy America-compliant vehicles that support this work and help us move the region forward."

NFI and RTD have partnered for more than 50 years. During that time, New Flyer has delivered nearly 500 buses and motor coaches to the agency, supporting fleet modernization and transit service throughout the Denver metropolitan region.

Created by the Colorado General Assembly in 1969, RTD today serves a population of approximately 3.09 million across 40 municipalities spanning all or portions of eight counties. The agency operates an active fleet of 955 buses and recorded more than 42.7 million bus boardings in 2024, underscoring the vital role bus service plays across the region.

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 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 New Flyer

New Flyer is North America's heavy-duty transit bus leader and offers the most advanced product line under the Xcelsior and Xcelsior Charge brands. It also offers infrastructure development through NFI Infrastructure Solutions, a service dedicated to providing safe, sustainable, and reliable charging and mobility solutions. New Flyer actively supports over 35,000 heavy-duty transit buses (New Flyer, NABI and Orion) currently in service, of which 8,600 are powered by electric motors and battery propulsion, and 1,900 are zero emission.

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