NFI subsidiary Alexander Dennis has announced an order for 200 double-decker buses. This is his biggest bus order since 2019 in the UK. Canadian Business Journal

LABERT, SCOTLAND, November 10, 2022 (GLOBE NEWSWIRE) — (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (“NFI” or the “Company”), a leading independent bus and coach manufacturer and leader in electric mass mobility solutions, announced today that its subsidiary, Alexander Dennis Limited (“Alexander Dennis”), has announced the launch of Stagecoach. 200 low-emission Enviro400 double-deck buses. This is the largest single order by number of vehicles in the UK bus industry since 2019.

Stagecoach’s 200 new buses will be built in the UK, equipped with Alexander Dennis’ SmartPack efficiency technology and given low-emission bus status, helping to reduce emissions in the communities Stagecoach serves. increase. All are due for delivery in 2023 and will be allocated to depots across England, from Torquay in the southwest to Newcastle in Tyne in the northeast. With this investment, Stagecoach will remove older buses from its fleet, benefiting local air quality.

Sam Greer, Director of Engineering at Stagecoach, said: “This truly demonstrates our commitment to the future prosperity of our community and to those who can all benefit from cleaner transport and a growing bus sector.

“These new double-decker buses will complement the investments already made in electric buses to modernize the fleet in several major UK towns and cities, enabling less pollution and helping customers We are looking forward to working with Alexander Dennis to bring the new buses into service from the beginning of next year.”

Paul Davies, President and Managing Director of Alexander Dennis, said: “Our low-emission Enviro400 is a proven product that combines efficiency with high passenger capacity. Robust and easy to service, his 200 new buses will seamlessly integrate into Stagecoach’s fleet.

“After the challenges faced by both operators and manufacturers in the UK bus industry over the past few years, it is a road to recovery to see large numbers of vehicles being ordered again by Stagecoach, the country’s largest bus operator. It is an encouraging step in

NFI is a leader in low- and zero-emission mobility, with vehicles operating in 13 countries and moving millions of people every day. NFI offers a wide range of vehicles including clean diesel, compressed natural gas, diesel-electric hybrid, zero-emission battery and fuel cell electric buses and coaches.

High resolution images can be downloaded from Alexander Dennis’ website at: alexander-dennis.com/media/news.

About NFIs

Leveraging 450 years of combined experience, NFI leads the electrification of mass mobility around the world. NFI uses zero-emission buses and coaches, infrastructure, and technology to meet today’s cities’ demand for scalable smart mobility solutions. NFIs work together to make cities more livable through connected, clean and sustainable transportation.

With 7,500 team members in 9 countries, NFI is the world’s leading bus manufacturer with New Flyer branded mass mobility solutions.^® (large route bus), MCI^® (large buses), Alexander Dennis Limited (single and double decker buses), Plaxton (large buses), ARBOC^® (low-floor cutaways and mid-sized buses), and NFI Parts™. NFI currently offers the widest range of sustainable drive systems available, including zero-emission electric (trolley, battery, fuel cell), natural gas, electric hybrids and clean diesel. In total, NFI supports an installed base of over 105,000 buses and coaches worldwide. NFI’s common stock trades on the Toronto Stock Exchange (“TSX”) under the symbol NFI and its convertible debentures trade on the TSX under the symbol NFI.DB. News and information at www.nfigroup.com, www.newflyer.com, www.mcicoach.com, www.nfi.parts, www.alexander-dennis.com, www.arbocsv.com and www.carfaircomposites.com Available. .

About Alexander Dennis

Alexander Dennis Limited (‘Alexander Dennis’) is a world leader in the design and manufacture of double-decker buses and the UK’s largest manufacturer of buses and coaches. Alexander Dennis offers his single-decker and his double-decker vehicles under the Alexander Dennis and Plaxton brands and in the UK, Europe, Hong Kong, Singapore, New Zealand, Mexico, Canada, and the United States he has over 31,000 We use more than one vehicle. For more information, please visit www.alexander-dennis.com.

Forward-Looking Statements

This press release may contain forward-looking statements regarding the expected future events and financial and operating results of NFI Group that involve risks and uncertainties. Although the forward-looking statements contained in this press release are based on what management believes to be reasonable assumptions, investors do not believe that actual results will match these forward-looking statements. cannot be guaranteed and differences may be material. Actual results may vary depending on market and general economic conditions, the funds with which customers purchase buses, parts and services. A number of reasons, including potential funding, may cause management’s expectations to differ materially from those projected in such forward-looking statements. The option to purchase additional buses, the ability of the customer to suspend or terminate the contract for convenience, and as described in materials filed with the Canadian Securities Regulatory Authority and available at SEDAR (www.sedar.com). exercise other risks and uncertainties that

Due to the potential impact of these factors, NFI Group disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. deny.

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6b03552b-986a-4b09-84f7-1fb791937037.

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