Toronto orders an additional 10 New Flyer battery-electric transit buses

This award follows on the original TTC order from New Flyer in June 2018 for ten battery-electric Xcelsior CHARGE™ buses, and increases TTC’s total order to 20 vehicles. The original contract was TTC’s first transit bus order from New Flyer since 1999, and has an additional 20 options remaining. The purchase also includes five ABB direct current (DC) depot chargers that conform to the Society of Automotive Engineer (SAE) J1772 Combined Charging System (CCS Type 1 Connector), allowing the chargers to support other types and makes of electric vehicles operating for the City of Toronto. The chargers will be commissioned by New Flyer Infrastructure Solutions™ and ABB.

TTC is the public transit agency operating bus, subway, streetcar, and paratransit services in Toronto, Ontario. As the third largest transit system in North America, TTC delivers more than 536 million passenger trips each year, and has integrated sustainability into its multi-year plan to reduce greenhouse gases, air pollution, and congestion on Toronto roadways.

The TTC’s electric bus program aims to transform mobility in Toronto with a 100% zero-emission bus fleet by 2040, which includes a commitment to purchase only zero-emission buses by 2025. This program will assist TTC and the greater public transit community in developing bus and electrification specifications for future procurements.

“New Flyer is proud to expand its zero-emission partnership with Toronto, with this follow on TTC order,” said Chris Stoddart, President, New Flyer.

NFI has over 50 years of experience in manufacturing zero-emission buses (ZEBs), with more electric buses on the road in North America than any other manufacturer. In 2018, New Flyer became the first bus manufacturer in the world to sign on to the Shared Mobility Principles for Livable Cities, joined the Charging Interface Initiative (CharIN) to support industry charging standards for all electric vehicles, became the first licensee outside the Volvo Group to join OppCharge in North America, and celebrated the Canadian Urban Transit Research and Innovation Consortium’s (CUTRIC) launch of the Pan-Canadian Electric Bus Demonstration and Integration Trial – the world’s first multi-manufacturer interoperability demonstration for fast-charge electric buses – of which New Flyer was a contributing member.

About NFI

With over 6,100 team members, operating from 31 facilities across Canada and the United States, NFI is North America’s largest bus manufacturer providing a comprehensive suite of mass transportation solutions under brands: New Flyer^® (heavy-duty transit buses), ARBOC^® (low-floor cutaway and medium-duty buses), MCI^® (motor coaches), and NFI Parts™ (parts, support, and service). NFI buses incorporate the widest range of drive systems available including: clean diesel, natural gas, diesel-electric hybrid, and zero-emission electric (trolley, battery, and fuel cell) on proven bus platforms. It also supports infrastructure development through New Flyer Infrastructure Solutions™, a service dedicated to providing safe and reliable charging and mobility solutions. In total, NFI supports over 74,000 buses and coaches currently in service across North America. For the fiscal year ended December 31, 2017, NFI posted revenues of US $2.4 billion. NFI common shares are traded on the Toronto Stock Exchange under the symbol NFI. News and information are available at www.nfigroup.com.

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 New Flyer Infrastructure Solutions™, a service dedicated to providing safe, sustainable, and reliable charging and mobility solutions. New Flyer actively supports over 41,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 7,300 are powered by electric motors and battery propulsion and 1,600 are zero-emission. Further information is available at www.www.newflyer.com.

Forward-Looking Statements

This press release may contain forward-looking statements relating to 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 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 suspend or 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 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.

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