Press Releases

New Flyer named as partner of choice by 12 U.S. Transit Agencies awarded FTA’s 2020 Low-No program grants

St. Cloud, Minnesota, USA – June 22, 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, announced it was named as a partner of choice by 12 major transit agencies across America for their successful project awards through the Federal Transit Administration’s (“FTA”) Low or No Emission (“Low-No”) Grant Program.

The 2020 Low-No program selections, announced earlier this month, resulted in New Flyer’s best ever showing as an electric bus manufacturing partner of choice. Started in 2015, the Low-No grant program is administered through a competitive application process, and exists to support the nation’s transition to the lowest polluting and most energy efficient transit vehicles using advanced propulsion technology, which improves air quality and migrates riders to clean and reliable mobility. Funding can be used to purchase or lease zero-emission and low-emission transit buses, including acquisition, construction, and leasing of required supporting facilities.

Following the FTA Notice of Funding Opportunity, New Flyer supported successful grant applications for $30 million in grants awarded to 12 agencies. Grant funds will support agencies in procuring zero-emission buses and charging infrastructure. For information on the FTA 2020 Low-No selections, visit transit.dot.gov/funding/. Any orders resulting from these grant awards will be added to New Flyer’s backlog as contracts are executed with each agency.

“New Flyer is proud to be the partner of choice by several leading U.S. transit agencies through the 2020 FTA Low-No program, and to support their expansion of zero-emission mobility,” said Chris Stoddart, New Flyer’s President. “We’ve led innovation in North American public transit for decades, and today we stand ready with buses, infrastructure, and technology to help communities transition to zero-emission mobility. Together with agencies across America, we’re delivering cleaner air, quieter streets, more efficient transit, and a better quality of life.”

Designed on the proven Xcelsior® bus platform, New Flyer offers zero-emission mobility through its battery-electric Xcelsior CHARGE™ (in 35, 40, and 60-foot lengths) and its fuel cell-electric Xcelsior CHARGE H2™ (in 40 and 60-foot lengths). New Flyer also supports zero-emission deployments through New Flyer Infrastructure Solutions™, providing safe and reliable services for sustainable mobility projects. Its full-suite infrastructure service includes support, planning, project management, engineering, construction, energy optimization, and commissioning to help ensure a successful transition to zero-emission mobility. Since its launch in January 2019, New Flyer Infrastructure Solutions has installed over 100 smart chargers across North America. For information on New Flyer’s zero-emission buses, visit www.newflyer.com/CHARGE or www.newflyer.com/CHARGEH2. For information on New Flyer Infrastructure Solutions™ visit www.newflyer.com/infrastructuresolutions.

New Flyer has been leading innovation in mobility for 90 years, today supporting North American cities with sustainable buses, technology, and infrastructure. It also operates the Vehicle Innovation Center, the first and only innovation lab of its kind dedicated to advancing bus technology and providing workforce development through electric bus training. New Flyer was the first bus manufacturer in the world to sign on to the Shared Mobility Principles for Livable Cities, and is currently developing automated bus technology to improve safety in public transit.

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 35,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 8,600 are powered by electric motors and battery propulsion and 1,900 are zero-emission. Further information is available at www.www.newflyer.com.

Forward-Looking Statements

This press release contains certain forward-looking statements which reflect the expectations of management regarding NFI’s and New Flyer’s future growth, performance, business prospects and sales opportunities. These forward-looking statements reflect management’s current expectations regarding future events, operating performance and opportunities and speak only as of the date of this press release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future events, performance or results, and will not necessarily be accurate indications of whether or not or the times at or by which such events, performance or results will be achieved. 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 transit agencies to purchase buses, parts or services; the COVID-19 pandemic will likely adversely affect operations of transit agencies and may adversely impact or delay decisions to purchase buses and services and adversely impact or delay the match portion of funding for which transit agencies are responsible to purchase buses and services; there is no guarantee that transit agencies awarded grants under the Low-No Grant Program will award contracts or draw upon all or any of the grant funds awarded to purchase buses, products or services from NFI or New Flyer or from any other original equipment manufacturer; transit agencies are not obligated to use the Low-No Grant funds awarded to only purchase transit buses, products or services or to purchase transit buses, products or services exclusively from New Flyer; the fleet and infrastructure plans of transit agencies may change or require different technologies than those that were originally included in the Low-No Grant proposal; the transit agency desiring to utilize a Low-No Grant and New Flyer may be unable to agree on contractual terms for the purchase of buses and/or services; transit agencies may not exercise options to purchase additional buses or services; transit agencies typically have the ability 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, NFI 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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