California's NCTD exercises options to add 50 more NFI low-emission Xcelsior CNG buses in North San Diego

WINNIPEG, Manitoba, July 19, 2021 (GLOBE NEWSWIRE) -- (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 the North County Transit District ("NCTD") has recently exercised options for 50 New Flyer of America Inc. ("New Flyer") Xcelsior^® compressed natural gas ("CNG") forty-foot, heavy-duty transit buses, converted from backlog. The first option conversion occurred in 2020 with 20 buses ordered, with the remaining 30 ordered in 2021.

The options are part of a five-year contract with NCTD established in 2016 for up to 103 Xcelsior^® CNG thirty-five or forty-foot buses. The order, supported by Federal Transit Administration funds, replaces older, end-of-life vehicles with lower-emission and more efficient buses that deliver increased sustainability. With the addition of these buses, NCTD will reduce the average age of its BREEZE bus fleet from 11 to 6.3 years old by August 2021.

NCTD provides public transit in North San Diego County, California, delivering approximately 10 million passenger trips per year.

"For over 25 years, New Flyer has delivered more than 230 buses to NCTD. Adding 50 more low-emission CNG buses allows for the continued reduction of greenhouse gas emissions," said Chris Stoddart, President, North America Bus and Coach, New Flyer and MCI. "NCTD relies on New Flyer to power mobility that helps build livable communities. With more than 13,000 CNG buses on the road, our technology is critical to achieving more sustainable transportation across North America."

NFI is a leader in zero-emission mobility, with electric vehicles operating or on order in more than 80 cities in five 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 Partstm. 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 Solutionstm, 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.

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