King County Metro agrees to purchase up to 120 zero-emission, battery-electric Xcelsior CHARGE™ buses from New Flyer; marks a milestone achievement toward 2040 commitment

St. Cloud, Minnesota, USA – January 30, 2020: (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 King County Metro (“Metro”) has agreed to purchase 40 sixty-foot zero-emission, battery-electric Xcelsior CHARGE™ heavy-duty transit buses from New Flyer, with plans to order an additional 80 battery-electric buses in the coming year. Upon execution of the purchase agreement with Metro, the order will be added to New Flyer’s backlog.

Metro’s agreement to purchase up to 120 new battery-electric buses, starting with the initial order of zero-emission articulated buses, was announced today by King County Executive Dow Constantine alongside Metro General Manager Rob Gannon, during a celebratory event and bus demonstration at Metro’s South Training Facility in Seattle, Washington. The announcement follows Metro’s 2018 electric bus evaluation program, which used New Flyer’s Xcelsior CHARGE™ buses, and is a major milestone in the county’s efforts to improve air quality, reduce carbon and create a zero-emissions bus fleet by 2040 or earlier.

In 2017, Executive Constantine and Metro General Manager Rob Gannon called on the industry to invest more in battery-electric options, including the creation of coaches that could travel farther and handle the varying terrain requirements of the region. New Flyer stepped up to the challenge, producing both a 40-foot and 60-foot battery-electric bus that met Metro’s specifications and timeline needs. The buses Metro will purchase both have a battery size of 466 kWh.

“Metro is a proven climate leader in America, and today’s announcement brings us even closer to the reality of a 100% zero-emission fleet,” said Chris Stoddart, President, New Flyer of America. “For over 40 years we’ve proudly supported Metro with over 1,800 buses in pursuit of sustainable mobility, and together, this next step drives a major milestone that not only reduces Metro’s carbon footprint in King County, but improves air quality and helps to build a more livable community for everyone.”

Since 1979, New Flyer has delivered over 1,800 buses to Metro, with over half comprised of zero-emission or hybrid electric propulsions.

“Today, we’re celebrating major progress toward our goal of transforming Metro to a zero-emission bus fleet, which is better not only for the environment but also for our customers,” said King County Executive Dow Constantine. “These new buses will be able to serve routes all over King County, and especially in the southern part of the county, an area disproportionately affected by pollution. Working with New Flyer, we’ve procured 40 new buses that can handle anything we throw at them – quietly, efficiently, and fueled by clean power.”

“This first fleet order of battery-electric buses helps combat the climate crisis and enhances our ability to serve our customers,” said Rob Gannon, Metro General Manager. “Hundreds of thousands of King County residents choose safe and efficient transit each weekday – keeping their cars off the road and emissions out of the air. This new battery-electric bus partnership with New Flyer allows us to do even more to reduce our county’s carbon footprint. New Flyer has consistently delivered what we asked for and in the timeline we’ve needed.”

New Flyer is proud to lead the industry in mobility solutions with the latest zero-emission buses, technology, and infrastructure that together, help build sustainable public transit across America. New Flyer has more than 50 years of experience in manufacturing zero-emission buses (ZEBs), with 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.

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