12.23.19

Press Releases

New Flyer receives order for 132 more buses from Washington Metro in the Nation’s Capital

St. Cloud, Minnesota, USA – December 23, 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 it is initiating third year production of 100 Xcelsior® forty-foot, heavy-duty transit buses and 32 Xcelsior sixty-foot, heavy-duty transit buses for the Washington Metropolitan Area Transit Authority (“Metro”), for a total of 164 equivalent units (“EUs”). This order is the third installment of a five-year contract by Metro first announced in July 2018 and for a total of up to 694 diesel and compressed natural gas (“CNG”) buses. It represents Metro’s Year 2 options, converting 132 buses from the backlog to firm orders.

The order replaces older, end-of-life vehicles with new more efficient buses that will deliver greater reliability, while increasing sustainability for riders.

“Since 2001, New Flyer has delivered nearly 1,500 buses to support and expand greater mobility in Washington and its surrounding communities – including electric hybrids, zero-emission battery-electric, and low-emission compressed natural gas buses,” said Chris Stoddart, President, New Flyer. “Together, we are building more efficient transportation while helping reduce traffic congestion in the capital region. New Flyer is proud to continue supporting Metro in its pursuit of delivering a safe, reliable and affordable transit experience.”

New Flyer’s diesel buses use a four-step technology to deliver highly efficient, virtually smoke-free engines that can help lower emissions and reduce particulate emissions by 90% and NOx emissions by 95% over traditional diesel propulsions.

Metro is a tri-jurisdictional government agency operating public transit service in the Washington Metropolitan Area including the District of Columbia, Maryland, and Virginia. Metro operates the sixth busiest bus agency in the United States, with 168 bus lines supporting an annual ridership of 295 million trips, of which 121 million are on buses. In total, Metro moves four times more people each year than BWI, DCA, and IAD airports combined. In 2018, the American Public Transportation Association’s (“APTA”) named Metro Grand Champion of its annual International Bus Roadeo, and in 2019, APTA awarded Metro the Gold Award for Security.

New Flyer has been leading innovation in transit buses for nearly 90 years, with over 50 years of experience manufacturing zero-emission buses and leadership of the Vehicle Innovation Center, the first and only innovation lab of its kind dedicated to advancing bus technology. In 2018, New Flyer became the first bus manufacturer in the world to sign on to the Shared Mobility Principles for Livable Cities. It is the only provider of full-suite bus solutions in North America with buses, technology, and infrastructure to support the mobility needs of growing communities, and has more electric buses on the road in America than any other manufacturer.

About NFI

With 9,000 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.

For media inquiries, please contact:
Lindy Norris
P: 204.792.8424
Lindy_Norris@newflyer.com

For investor inquiries, please contact:
Stephen King
P: 204.224.6382
Stephen.King@nfigroup.com