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St. Cloud, Minnesota, USA \u2013 November 16, 2021:<\/strong>\u00a0(TSX: NFI, OTC: NFYEF)<\/strong> NFI Group Inc. (\u201cNFI\u201d), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, today announced that its subsidiary New Flyer of America Inc. (\u201cNew Flyer\u201d) has\u00a0received an order from the University of Michigan-Transportation Services (\u201cU-M\u201d),\u00a0for three zero-emission, battery-electric Xcelsior CHARGE NG\u2122 forty-foot transit buses and one sixty-foot articulated Xcelsior CHARGE NG\u2122 bus (for a total of five equivalent units, or \u201cEUs\u201d). The contract has a base term of one year with 13 one-year renewal terms, and marks New Flyer\u2019s first bus order from U-M.\u00a0 The contract also includes options for up to 50 Xcelsior\u00ae<\/sup> heavy-duty transit buses in 35-foot, 40-foot and 60-foot lengths in both electric and diesel propulsion.<\/p>\n\n\n\n U-M operates a large alternative-energy vehicle fleet. With nearly one thousand vehicles in its fleet, the University has committed to achieving university-wide carbon neutrality by 2040.<\/p>\n\n\n\n \u201cNFI is proud to support U-M\u2019s commitment to sustainability with our advanced battery-electric buses,\u201d said Chris Stoddart, President, North American Bus and Coach. \u201cDrawing on over 50 years of engineering experience in zero-emission mobility, our EVs offer up to 250 miles in range on a single charge and will immediately reduce greenhouse gas emissions, delivering cleaner, quieter, more sustainable mobility to the U-M community.\u201d<\/p>\n\n\n\n Introduced in 2021, the Xcelsior CHARGE NG\u2122<\/sup> bus incorporates three distinct technology advancements, including high-energy batteries that extend range up to 13%, advanced protective battery packaging for easy install and simpler serviceability, and a new lightweight electric traction drive system with up to 90% energy recovery. For more information, visit newflyer.com\/ng<\/a><\/p>\n\n\n\n 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\u2019s vehicles have completed over 50 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<\/a>, and workforce development.<\/p>\n\n\n\n NFI also operates the <\/a>Vehicle Innovation Center<\/a> (\u201cVIC\u201d), 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 4,000 industry professionals for EV and infrastructure training.<\/p>\n\n\n\n About NFI<\/strong><\/p>\n\n\n\n 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\u2019s urban demands for scalable smart mobility solutions. Together, NFI is enabling more livable cities through connected, clean, and sustainable transportation.<\/p>\n\n\n\n With 8,000 team members in nine countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer\u00ae<\/sup> (heavy-duty transit buses), MCI\u00ae<\/sup> (motor coaches), Alexander Dennis Limited (single and double-deck buses), Plaxton (motor coaches), ARBOC\u00ae<\/sup> (low-floor cutaway and medium-duty buses), and NFI Parts\u2122. 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<\/a>, www.newflyer.com<\/a>, www.mcicoach.com<\/a>, www.arbocsv.com<\/a>, www.alexander-dennis.com<\/a>, and www.nfi.parts<\/a>. <\/p>\n\n\n\n About New Flyer<\/strong><\/p>\n\n\n\n New Flyer is North America\u2019s heavy-duty transit bus leader and offers the most advanced product line under the Xcelsior\u00ae<\/sup> and Xcelsior CHARGE\u00ae<\/sup> brands. It also offers infrastructure development through New Flyer Infrastructure Solutions\u2122, 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<\/a>.<\/p>\n\n\n\n Forward-Looking Statement<\/strong><\/p>\n\n\n\n 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<\/a>. 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. <\/p>\n\n\n\n For media inquiries, please contact:
Lindy Norris
P: 320.406.3386
Lindy_Norris@newflyer.com<\/a><\/p>\n\n\n\n