Press Releases

New Flyer Zero-Emission Buses Now Eligible for New York State Purchase Incentives – Xcelsior® Electric Bus Showcased at the New York Transit Connections Conference

Winnipeg, Manitoba, Canada – October 23, 2015: (TSX:NFI) (TSX:NFI.DB.U) New Flyer Industries Inc. (“New Flyer” or the “Company”) the leading manufacturer of heavy-duty transit buses in the United States and Canada, announced the Xcelsior® XE35 and XE40 model buses are now eligible for the New York State Energy Research and Development Authority’s Voucher Incentive Program (VIP). New Flyer’s Xcelsior XE40 battery-electric bus will be showcased at 2015 New York Connections Conference in Rochester, New York from October 27-29, 2015.

The New York State Energy Research and Development Authority, known as NYSERDA, promotes energy efficiency and the use of renewable energy sources. The Voucher Incentive Program is intended to reduce the incremental costs of purchasing advanced technology buses, with the goal to reduce green house gas emissions and promote a more fuel independent New York. The program is administered and implemented through a partnership with CALSTART. CALSTART is a member-supported organization supporting clean transportation.

Paul Smith, Executive Vice President of Sales and Marketing with New Flyer, explained the significance of the VIP program, and New York Connections Conference, “We’re excited about our ability to offer New York State public transportation professionals another option in their clean-air initiatives. New Flyer has a strong customer base in New York State, with over 1,500 buses operating in-service with clean-diesel, diesel-electric hybrids, and compressed natural gas propulsion systems. Our engineers and support teams have worked closely with transit agencies to specify and manufacture buses that operate reliably in all seasons – from the boroughs of New York City, to rural communities throughout the State of New York. Xcelsior zero-emission buses are built for reliability, and they’ve proven themselves in the harsh winter conditions of Chicago and Winnipeg, Canada. We’re look forward to sharing our zero-emissions technology with New York State transit professionals attending this year’s Connections Conference.”

The New York Public Transit Connections Conference and Expo is New York State’s largest annual gathering of public transportation managers and professionals. In partnership with NYSDOT, the Rural Transportation Assistance Program and the Federal Transit Administration, the Connections Conference and Expo features two days of education for New York State transit professionals.

About New Flyer

New Flyer is the leading manufacturer of heavy-duty transit buses in the United States and Canada. The Company is the industry technology leader and offers the broadest product line of transit buses including drive systems powered by: clean diesel, natural gas, diesel-electric hybrid, electric trolley and now, battery-electric. All buses are supported by an industry-leading comprehensive warranty and support program, and service network. New Flyer also operates the industry’s most sophisticated aftermarket parts organization, sourcing parts from hundreds of different suppliers and providing support for all types of transit buses.

The New Flyer group of companies employ over 3,300 team members with manufacturing, fabrication, parts distribution and service centers in both Canada and the United States. Over 32,000 New Flyer and NABI heavy-duty transit buses are in operation today. Further information is available on New Flyer’s website at http://www.www.newflyer.com/content

The common shares and convertible unsecured subordinated debentures of the Company are traded on the Toronto Stock Exchange under the symbols NFI and NFI.DB.U, respectively.

Forward-Looking Statements

This press release may contain forward-looking statements relating to expected future events and financial and operating results of the Company that involve risks and uncertainties. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward-looking statements, and the differences may be material. Actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions and economic conditions of and funding availability for customers to purchase buses and to purchase parts or services, customers may not exercise options to purchase additional buses, the ability of customers to terminate contracts for convenience and the other risks and uncertainties discussed in the materials filed with the Canadian securities regulatory authorities and available on SEDAR at www.sedar.com. Due to the potential impact of these factors, the Company 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.

For further information, please contact:
Jon Koffman
Investor Relations
Tel: 204-224-6672