San Diego MTS orders 12 NFI zero-emission, electric, articulated transit buses

ST. CLOUD, Minn., Oct. 13, 2021 (GLOBE NEWSWIRE) — (TSX: NFI, OTC: NFYEF) NFI Group Inc. (“NFI”), a leading independent bus and coach manufacturer and a leader in mass mobility solutions, today announced that the San Diego Metropolitan Transit System (“MTS”) has awarded NFI subsidiary New Flyer of America Inc. (“New Flyer”) a contract for 12 battery-electric, sixty-foot articulated Xcelsior CHARGE NG heavy-duty transit buses (24 equivalent units or “EUs”). This award was added to backlog as part of NFI’s second quarter 2021 financial results.

The electric bus order follows the 2020 order of 26 Xcelsior® CNG sixty-foot transit buses, and is supported by Federal Transit Administration (“FTA”) funds. MTS operates 95 bus routes and three light rail lines across 10 cities and unincorporated areas of San Diego County. MTS launched the region’s first zero emissions bus pilot program in 2019, and last year set a plan in motion to convert its entire bus fleet to zero emission by 2040.

“In the past 30 years, NFI has delivered over 600 buses to MTS. It was one of the first transit agencies in the U.S. to move to a compressed natural gas bus fleet, and is a pioneer in sustainable mobility,” said Paul Soubry, President and Chief Executive Officer, NFI. “We are pleased to continue supporting MTS as it drives towards California’s Innovative Clean Transit goal of a 100% zero-emission fleet by 2040.”

“Our zero-emission Xcelsior CHARGE NG is equipped with advanced modular battery packaging, long-range batteries, and an innovative lightweight traction drive system,” said Chris Stoddart, President, North American Bus and Coach. “With these high-performing technologies onboard, the new buses can meet rigorous operational demands of the MTS fleet, while delivering smooth, quiet, and emission-free transportation to San Diego County.”

New Flyer’s Xcelsior CHARGE NG™ battery-electric buses provide up to 525kWh of power and 250 miles of range on a single charge. For more information, visit newflyer.com/ng.

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 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.comwww.newflyer.comwww.mcicoach.comwww.arbocsv.comwww.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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