Mr. Chris Stoddart reports

HOUSTON METRO AWARDS NEW FLYER ORDER FOR 100 CNG BUSES, EXTENDING A TRUSTED PARTNERSHIP BUILT OVER 30 YEARS

NFI Group Inc. subsidiary New Flyer of America Inc. has received an order from the Houston Metropolitan Transit Authority for 100 Xcelsior 40-foot compressed natural gas buses. The order was added to New Flyer's firm backlog in the second quarter of 2026.

The purchase, valued at approximately $93-million, is supported by funding from the Federal Transit Administration's 2025-2026 low- or no-emission program and bus and bus facilities projects. The new buses will replace end-of-life vehicles, helping Metro support efficient, lower-emission transit service across the Houston region. The initiative is being undertaken in conjunction with upgrades to select Metro facilities that will increase compressed natural gas fuelling capacity.

"For more than 30 years, Metro and NFI have worked together to support safe, dependable transit for the Houston region," said Chris Stoddart, president, North American bus and coach, NFI. "We're honoured to continue that partnership with New Flyer Xcelsior CNG buses that will help enhance service for riders, support Metro's ongoing fleet renewal efforts and continue advancing cleaner public transportation solutions for the communities it serves."

Metro is the primary public transportation provider in the Houston region, delivering safe, reliable and integrated mobility solutions across the city of Houston, most of Harris county and surrounding communities. Since beginning operations in 1979, Metro has evolved into a comprehensive, multimodal system spanning approximately 1,300 miles, connecting millions of residents to employment centres, education, health care and essential services through an extensive network of bus, light rail and accessible transit options.

Today, Metro serves a population of approximately four million people and provides more than 76 million passenger trips annually, playing a pivotal role in supporting mobility and economic growth in one of North America's largest metropolitan regions. Bus service forms the backbone of the system, accounting for the majority of the ridership and enabling frequent, high-capacity connections across the region's diverse communities.

"CNG allows Metro to deliver the reliable service our customers depend on while operating a cleaner, more efficient fleet," said Kurt Luhrsen, interim chief operating officer at Metro. "As we replace aging buses, we have an opportunity to reduce emissions and make responsible choices that benefit both our riders and the Houston region. CNG is an important part of that commitment."

This latest order further strengthens the long-standing relationship between NFI and Metro, which has included New Flyer transit buses and MCI motorcoaches since 1991. Together, the organizations continue working to support essential transportation services, system investment and improved transit access across the Houston metropolitan 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 and its convertible unsecured debentures trade under the symbol NFI.DB.

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