Press Releases

Valley Metro reduces Phoenix’s carbon footprint with another order of New Flyer CNG buses

St. Cloud, Minnesota, USA – October 4, 2019: (TSX: NFI) New Flyer of America Inc. (“New Flyer”), a subsidiary of NFI Group Inc. (“NFI”), one of the world’s leading independent global bus manufacturers, today announced that the Valley Metro Regional Public Transportation Authority (“RPTA” or “Valley Metro”) has exercised options for 27 additional Xcelsior® forty-foot, compressed natural gas (“CNG”) heavy-duty transit buses.

The original joint contract with the City of Phoenix, awarded November 2017, included up to 396 buses over five-years. Currently, 91 percent of the Valley Metro fleet is powered by low-emission CNG buses, which support local clean air initiatives and Valley Metro’s 2016-2020 strategic plan to advance the value of transit throughout metro Phoenix.

Since 2006, NFI has delivered over 800 buses and coaches to Valley Metro. New Flyer’s CNG buses reduce fleet NOx (nitrogen oxides) emissions by 90% over conventional diesel-powered vehicles, and since 1994, New Flyer has delivered nearly 13,000 CNG buses across the U.S. and Canada.

“As North America’s leading manufacturer of low and zero-emission transit buses, New Flyer is pleased to support Valley Metro in continuing its emission reduction through CNG technology,” said Chris Stoddart, President, New Flyer. “CNG is a safe, scalable, and reliable propulsion, making it ideal for cities looking to implement low-emission mobility on an immediate basis.”

Valley Metro is the regional public transportation agency that provides coordinated, multimodal transit options to the Greater Phoenix area, with 51 million passenger trips on its buses in 2018. Valley Metro, in coordination with 18 member agencies, plans, constructs and operates regional bus and light rail systems and alternative transportation programs for riders of all ages, backgrounds, and abilities.

New Flyer has been leading innovation in transit for over 90 years. In 2017, it opened the Vehicle Innovation Center, the first and only innovation lab of its kind dedicated to advancing bus and coach technology. In 2018, New Flyer became the first bus manufacturer in the world to sign on to the Shared Mobility Principles for Livable Cities, which supports collaboration in developing multimodal, integrated cities through technology-driven innovation.

About NFI

With over 8,900 team members operating from more than 50 facilities across ten countries, NFI is a leading independent global bus manufacturer providing a comprehensive suite of mass transportation solutions under brands: New Flyer® (heavy-duty transit buses), Alexander Dennis Limited (single and double-deck buses), Plaxton (motor coaches), MCI® (motor coaches), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts™. NFI buses and motor coaches 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).  In total, NFI now supports over 105,000 buses and coaches currently in service around the world. NFI common shares are traded on the Toronto Stock Exchange under the symbol NFI. News and information are available at www.nfigroup.com, www.www.newflyer.com, www.mcicoach.com, www.arbocsv.com, www.alexander-dennis.com, and www.nfi.parts.

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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