(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 its subsidiary Motor Coach Industries (“MCI”) has unveiled the new zero-emission, battery-electric J4500 CHARGE™ coach.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/26c6d288-ddbb-4cb1-9f49-5bfec1859316

YouTube link: https://www.youtube.com/watch?v=ri-qgxgO-Ms

The J4500 CHARGE™ – a zero-emission version of the industry’s best-selling J series tour and charter luxury coaches – leverages EV technology from New Flyer and delivers over 200 miles of range, while also delivering enhanced safety features.

“NFI has pushed EV and automated innovation forward, and today we achieve another milestone in our technology roadmap through the launch of MCI’s first battery-electric luxury coach,” said Paul Soubry, President and Chief Executive Officer, NFI. “With the unveiling, MCI further expands NFI’s market-leading portfolio of zero-emission vehicles and continues our ability to lead the ZEvolution.”

MCI’s J4500 CHARGE™ incorporates advanced technology to power its high performance, including optimized battery placement for weight distribution and handling; enhanced regeneration for energy recovery and greater efficiency; exceptional torque and gradeability for smoother, more powerful operation; and next generation, ethically sourced, high-energy batteries that deliver over 200 miles of range. To learn more, visit mcicoach.com/electric.

The new J4500 CHARGE™ is perfectly suited for use by tour and charter, employee shuttle, and executive coach operators looking to lower their emissions and total operating costs while maintaining the luxury and passenger experience that has defined MCI for decades.

“Our J4500 CHARGE was made for high performance through unmatched design, with each detail developed to provide an exceptional passenger experience while supporting zero-emission travel with clean, safe, reliable mobility,” said Chris Stoddart, President, NFI North America Bus and Coach. “With fully customizable interiors, the industry’s best warranty coverage, and expert infrastructure support offered through NFI’s Infrastructure Solutions team, the J4500 CHARGE is leading the next generation of travel.”

The J4500 CHARGE™ features brighter, more spacious interiors with industry-leading legroom. Parts support is provided by NFI subsidiary NFI Parts, North America’s largest parts supplier, with training offered by the industry’s only ASE-accredited training center, MCI Academy. Further training and workforce development support is provided through NFI’s Vehicle Innovation Center (“VIC”), North America’s first and only innovation lab dedicated to the advancement of bus technology. The VIC now offers detailed virtual sessions to allow operators and drivers to increase their EV and AV training.

“We successfully completed prototype testing of our J4500 CHARGE in 2018, and since then have continued rigorous field testing of MCI’s battery-electric performance to prove operation through virtually any condition,” said Brent Maitland, MCI’s Vice President of Private Sector Sales and Marketing. “And, not only do our EVs include the industry’s best warranty at 30 months, they are supported by NFI’s field tech army – North America’s most extensive bus and coach service and support network – with 24/7 roadside assistance to support operators any time of day.”

New Flyer and MCI will deliver J4500 CHARGE™ electric coach training through a no-cost virtual session hosted July 7, 2021, through the VIC. To register, visit newflyer.com/VIC.

In addition to operating the VIC, NFI offers comprehensive infrastructure support through its Infrastructure Solutions team, providing safe and reliable infrastructure services for sustainable mobility projects with over 200 chargers installed to date. To learn more, visit newflyer.com/infrastructuresolutions.

NFI is leading the global electrification of mass mobility, operating in more than 80 cities in four countries that have completed over 40 million electric service miles. NFI is testing automated vehicle technology and remains committed to the development of technology standards that deliver safe, clean, sustainable, connected mobility options to communities.

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 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 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 MCI

MCI is North America's leading public and private market motor coach brand, building the J4500 (an industry best-seller for over a decade), the all-new 35-foot J3500 model, and the workhorse D-Series including the ADA-accessible MCI D45 CRT LE Commuter Coach. MCI also provides maintenance, repair, 24-hour roadside assistance, parts, and technician training through the industry's only Automotive Service Excellence (ASE) accredited MCI Academy.

Forward-Looking Statements

This press release may contain forward-looking statements which reflect the expectations of management regarding MCI’s and NFI’s strategic initiatives, new products, plans and opportunities, including the development and future production and sale of the battery-electric J4500 CHARGE™ and the benefits and improvements related to the new product. The words “believes”, “views”, “anticipates”, “plans”, “expects”, “intends”, “projects”, “forecasts”, “estimates”, “guidance” and “targets”, “may”, “will”, and similar expressions, are intended to identify forward looking statements.

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 the J4500 CHARGE™; the J4500 CHARGE™ is a new product and no production models have yet been delivered to customers; there may not be sufficient customer demand for the J4500 CHARGE™, or at all, in order to commence or maintain manufacturing for the new product; the expected economic, efficiency, better manufacturability, lower weight, increased range and other benefits and improvements of the product described in this release may not be as great as those anticipated or may not be realized at all; 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, 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:Lindy NorrisP: 320.406.3386Lindy_Norris@newflyer.com

For investor inquiries, please contact:Stephen KingP: 204.224.6382Stephen.King@nfigroup.com