Vancouver’s Translink awards New Flyer contract for up to 55 additional hybrid-electric buses

Winnipeg, Manitoba, CANADA – October 22, 2021: (TSX: NFI, OTC: NFYEF) NFI Group Inc. (“NFI” or the “Company”), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, today announced that the South Coast British Columbia Transportation Authority (“TransLink”) has awarded NFI subsidiary New Flyer Industries Canada ULC (“New Flyer”) a new contract for 25 Xcelsior^® sixty-foot hybrid-electric buses (50 equivalent units or “EUs”). The three-year contract includes options for up to 30 additional sixty-foot hybrid-electric buses (60 EUs), which have been added to NFI’s backlog.

The first 25 buses will deliver in 2021 and will replace older, end-of-life vehicles with more efficient, lower emission buses that will deliver increased sustainability. Translink is Metro Vancouver’s transportation network, serving residents and visitors with public transit, major roads, bridges and Trip Planning and supporting over 300 million boardings annually.

“With more than 1,240 buses and coaches delivered to Translink since 1999 – including 32 Alexander Dennis double decks, 86 ARBOC low-floor buses, and over 1,120 New Flyer transit buses – NFI is leading the deployment of sustainable transit on Canada’s west coast,” said Paul Soubry, President and Chief Executive Officer, NFI. “We have led innovation in hybrid-electric mobility for over 20 years, and our hybrid buses – a proven transition strategy on the path to a fully electric, zero-emission future – are an important contributor to NFI’s four-pillar mobility solution.” NFI has delivered more hybrid buses to the North American industry – in more configurations – than any other manufacturer.

“Our hybrid-electric buses provide a better passenger experience while delivering immediate emissions reductions driving sustainability goals,” said Chris Stoddart, President, North America Bus and Coach. “With smoother acceleration, a quieter ride, and improved air quality, we are ultimately helping to develop a more livable Metro Vancouver region with Translink.”

New Flyer’s diesel-electric hybrid buses bridge the transition between traditional combustion engines and zero-emission propulsion, reducing NOx emissions up to 50% and particulate matter levels up to 100% while also lowering fuel use and maintenance costs. For more information, visit newflyer.com/bus/xcelsior-hybrid/.

NFI is a leader in zero-emission mobility, with electric vehicles operating (or on order) in more than 80 cities in five countries. NFI offers the widest range of zero-emission battery and fuel cell-electric buses and coaches, and the Company’s vehicles have completed over 40 million EV service miles. Today, NFI supports growing North American cities with scalable, clean, and sustainable mobility solutions through a four-pillar approach that includes buses and coaches, technology, infrastructure, and workforce development. NFI also operates the Vehicle Innovation Center (“VIC”), the first and only innovation lab of its kind dedicated to advancing bus and coach technology and providing workforce development. Since opening late 2017, the VIC has hosted over 300 interactive events, welcoming over 4,000 industry professionals for EV and infrastructure training.

About NFI

Leveraging 450 years of combined experience, NFI is leading the electrification of mass mobility around the world. With zero-emission buses and coaches, infrastructure, and technology, NFI meets today’s urban demands for scalable smart mobility solutions. Together, NFI is enabling more livable cities through connected, clean, and sustainable transportation. With 8,000 team members in nine countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer^® (heavy-duty transit buses), MCI^® (motor coaches), Alexander Dennis Limited (single and double-deck buses), Plaxton (motor coaches), ARBOC^® (low-floor cutaway and medium-duty buses), and NFI Parts™. NFI currently offers the widest range of sustainable drive systems available, including zero-emission electric (trolley, battery, and fuel cell), natural gas, electric hybrid, and clean diesel. In total, NFI supports its installed base of over 105,000 buses and coaches around the world. NFI common shares are traded on the Toronto Stock Exchange under the symbol NFI. News and information is available at www.nfigroup.com, 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.newflyer.com.

Forward-Looking Statement

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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