01.03.23

Press Releases

CapMetro orders 30 chargers from NFI Infrastructure Solutions™ to support zero-emission mobility in Austin

St. Cloud, Minnesota, USA – January 3, 2023: (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (“NFI”), a leading independent bus and coach manufacturer and leader in electric mass mobility solutions, today announced that the Capital Metro Transportation Authority (“CapMetro”) has exercised options to purchase 30 Heliox 180 kWh depot overhead chargers, including 90 pantograph dispensers, by NFI Infrastructure SolutionsTM. The purchase is part of CapMetro’s five-year contract with NFI subsidiary of New Flyer of America Inc. (“New Flyer”) for up to 171 battery-electric buses and 427 chargers.

The Heliox depot overhead chargers will support CapMetro’s initiative of transitioning to a battery-electric bus fleet. The order will also support Project Connect, CapMetro’s and the City of Austin’s joint initiative to improve the public transportation network across the Central Texas region. Headquartered in Austin, Texas, CapMetro provides public transportation services, delivering more than 20 million annual trips through bus, paratransit, and commuter rail services.

“This is just another step forward in our mission to create a clean environment for our community,” said Andrew Skabowski, Chief Operating Officer, CapMetro. “Sustainability is one of the core values at CapMetro, and through our partnership with New Flyer, we are investing in a sustainable future for all Central Texans.”

“For 25 years, NFI has supported CapMetro with efficient, safe, and accessible transit solutions, having delivered more than 360 vehicles to CapMetro since 1997. NFI now continues to enable CapMetro’s transition to zero-emission mobility through its reliable, safe, and sustainable infrastructure services,” said Chris Stoddart, President, North American Bus and Coach, NFI. “By leveraging NFI’s extensive experience in smart charging infrastructure, CapMetro will support zero-emission bus deployment in Austin, ultimately delivering cleaner, quieter mobility in Texas.”

NFI Infrastructure Solutions is a service dedicated to providing safe and reliable infrastructure services for smart, sustainable mobility projects with more than 330 chargers installed to date. For more information, visit nfigroup.com/IS.

NFI is a leader in zero-emission mobility, with electric vehicles operating (or on order) in more than 120 cities in six countries. NFI offers the widest range of zero-emission battery and fuel cell-electric buses and coaches, and its vehicles have completed more than 85 million electric 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 in late 2017, the VIC has hosted over 350 interactive events, welcoming 7,000 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 7,500 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. The Shares are traded on the Toronto Stock Exchange under the symbol NFI and NFI’s convertible unsecured debentures trade on the Toronto Stock Exchange under the symbol NFI.DB. News and information is available at www.nfigroup.com, www.newflyer.com, www.mcicoach.com, www.nfi.parts, www.alexander-dennis.com, www.arbocsv.com, and www.carfaircomposites.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.

For media inquiries, please contact:

Amanda Wanke
P: 515.474.1704
Amanda_Wanke@newflyer.com
Amanda_Wanke@newflyer.com

For investor inquiries, please contact:

Stephen King
P: 204.224.6382
Stephen.King@nfigroup.com