NFI NFI Group Inc

(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 Unitrans – the University of California, Davis (“UC Davis”) transit system – has purchased six Xcelsior CHARGE™ battery-electric, forty-foot heavy-duty transit buses from NFI subsidiary New Flyer of America Inc. (“New Flyer”). UC Davis utilized the California Department of General Services (“DGS”) contract for the procurement.

NFI’s New Flyer was selected by DGS as an approved supplier of electric vehicles in 2019. The DGS contract simplifies potential future bus procurement for California local government agencies for up to five years.

State contracts have been growing as a procurement channel for U.S. transit agencies due to their ability to streamline processes. NFI is currently an active supplier on over 20 U.S. state contracts and has received more than 600 vehicle awards from state contracts since 2018.

Unitrans operates in and around the UC Davis campus, providing mobility to more than 45,000 students and delivering over four million passenger trips per year. Unitrans has pursued alternative fuels for nearly a decade, a strategy accelerated by the California Air Resources Board’s adoption of the Innovative Clean Transit regulation in 2018, which mandates the state’s public transit agencies to transition to 100% zero-emission bus fleets by 2040.

The purchase is supported by Federal Transit Administration (“FTA”) funds and begins conversion of the current Unitrans fleet, comprised of compressed natural gas buses (“CNG”), to zero-emission as existing vehicles reach end of life. Full electrification of the fleet – anticipated for completion in the early 2030’s – is a joint venture between the campus and city, both focused on sustainability and mitigation of climate change.

“This new award highlights that the transition to battery- and fuel cell-electric vehicles is taking place across California’ cities and campuses, and NFI is playing a leadership role in the evolution to zero-emission mobility,” said Paul Soubry, President and Chief Executive Officer, NFI. “We applaud Unitrans’ use of a state contract, as it enables agencies to expedite vehicle procurements, which will result in greater accessibility and lower emissions. We are excited to continue growing our business in California, the U.S. and around the world by offering our customers the widest range of electric vehicles and turnkey mobility solutions.”

"Having delivered 37 low-emission CNG buses to Unitrans since 2009, we now turn our focus to advancing UC Davis toward cleaner, more sustainable, and climate-friendly mobility," said Chris Stoddart, President, North America Bus and Coach, NFI. "Over 50 years of engineering electric buses has enabled continual innovation of our zero-emission technology, and, today, our Xcelsior CHARGE buses are meeting the increasing demand for sustainable transportation. Together with Unitrans, we are creating healthier, quieter, more livable communities while mitigating climate change head on.”

NFI subsidiary Alexander Dennis Limited (“ADL”) has also supported Unitrans’ evolution to zero-emission, with four low-emission ADL Enviro500 forty-foot double deck buses delivered between 2010 and 2017.

NFI is a leader in zero-emission mobility, with electric vehicles operating or on order in more than 80 cities in four countries. 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. It also operates the 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 3,000 industry professionals for EV and infrastructure training. For more information, visit newflyer.com/VIC.

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 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 Statements

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:Lindy NorrisP: 320.406.3386Lindy_Norris@newflyer.com

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