NFI NFI Group Inc

(TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (NFI) a leading independent bus and coach manufacturer and a leader in zero-emission electric mass mobility solutions, subsidiary Alexander Dennis Limited (Alexander Dennis), today announced that Go-Ahead Group subsidiary Go-Ahead London has ordered 32 Enviro100EV small electric buses in the second deal with an operator in the capital for the manufacturer’s next-generation electric buses.

The buses will be used on Transport for London (TfL) services that navigate narrow streets and housing estates, where the Enviro100EV’s compact dimensions of 8.5m length and 2.35m width allow for great maneuverability while also offering room for up to 41 passengers, 21 of them seated.

Go-Ahead London will operate the buses from its Orpington Garage on local routes R1, R3, R4, and R8 as well as route 233 between Eltham and Swanley. All are powered by the medium-duty version of the Voith Electrical Drive System and will have 354kWh batteries, supplied by Impact Clean Power Technology and providing up to 1.2GWh warrantable energy throughput to allow for long operating lives without battery replacement.

“Our Enviro100EV is a great fit for the smallest size of single deck bus operated on behalf of Transport for London, offering a great passenger experience and features of Transport for London’s Bus Safety Standard and combining this with a driveline and batteries designed for longevity,” said Neil Gladstone, National Account Manager for Alexander Dennis. “We’re delighted that Go-Ahead London has chosen the Enviro100EV for its small bus requirements and look forward to delivering these vehicles in early 2025.”

“These vehicles showcase high quality public transport, and we look forward to deploying the Enviro100EV fleet on a series of busy outer London services in 2025,” said Chris McKeown, Go-Ahead London's Engineering Director. “As the capital's most experienced, largest, and innovative zero-emission bus company I have every confidence they will be well received by colleagues and passengers alike.”

“These new buses are a welcome addition, and we look forward to welcoming them to our fleet that already has almost 1,700 zero emission buses. Their compact design makes them ideal for routes with narrower streets and helps passengers choose a sustainable, accessible, and affordable mode of transport,” said Nick Owen, TfL’s Director of Buses. “We encourage our operators to make greener procurement decisions to help us deliver on the Mayor’s commitment to have a 100 per cent zero emission fleet by 2030 and this move by Go-Ahead London is a positive step to achieve it.”

NFI is a leader in zero-emission mobility, with electric vehicles operating (or on order) in more than 150 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 over 195 million EV service miles.

High resolution images are available for download from the Alexander Dennis website at alexander-dennis.com/media/news.

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 over 8,750 team members in ten 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 100,000 buses and coaches around the world. NFI’s common shares trade on the Toronto Stock Exchange (“TSX”) under the symbol NFI and its convertible unsecured debentures trade on the TSX under the symbol NFI.DB. News and information is available at www.nfigroup.com, www.newflyer.com, www.mcicoach.com, nfi.parts, www.alexander-dennis.com, arbocsv.com, and carfaircomposites.com.

About Alexander Dennis

Alexander Dennis is a global leader in the design and manufacture of double deck buses and is also the UK’s largest bus and coach manufacturer. Alexander Dennis offers single and double deck vehicles under the brands of Alexander Dennis and Plaxton and has over 31,000 vehicles in service in the UK, Ireland, Europe, Hong Kong, Singapore, New Zealand, Mexico, Canada, and the United States. Further information is available at www.alexander-dennis.com.

Forward-Looking Statement

This press release may contain forward-looking statements relating to expected future events and financial and operating results of NFI 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; production may be delayed or production rates may be decreased as a result of ongoing and future supply chain disruptions and shortages of parts and components, shipping and freight delays, and disruption to and shortage of labor supply; and the other risks and uncertainties discussed in the materials filed with the Canadian securities regulatory authorities and available on SEDAR at www.sedarplus.ca.

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.

For media inquiries, please contact:Debbie McCreath, +44 1324 574479Stefan Baguette, +44 1324 678047press@alexander-dennis.com

For investor inquiries, please contact:Stephen KingP: 204.792.1300Stephen.King@nfigroup.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/154a889f-4aa6-487e-8e59-6aac8489a75a