New Flyer receives order for 100 additional transit buses for the Washington Metro Region

Washington Metro continues to modernize its fleet with New Flyer hybrid and battery-electric buses

TSX: NFI,OTC:NFYEF, OTC: NFYEF, TSX: NFI,OTC:NFYEF.DB) New Flyer of America Inc. (New Flyer), a leader in the transit industry and a subsidiary of NFI Group Inc. (NFI), today announced that Washington Metropolitan Area Transit Authority ("Metro") has exercised options for 75 Xcelsior® hybrid-electric forty-foot transit buses and 25 Xcelsior CHARGE NG™ battery-electric forty-foot transit buses. The options are being exercised from New Flyer's robust Q4 backlog.

The purchase will be supported by federal, state, and local funding as well as funds awarded through the Federal Transit Administration Low or No Emission grant program. The new buses will replace end-of-life vehicles and provide Metro customers with a modernized, efficient passenger experience, while also delivering on Metro's five-year Strategic Transformation Plan, which focuses on becoming the region's trusted way to move people safely and efficiently.

"New Flyer is committed to continuing our decades-long relationship with Metro, providing buses that deliver strong value, reliability, and performance," said Chris Stoddart, President of North American Bus and Coach at NFI. "As Metro phases out aging buses, New Flyer's Buy America-compliant, advanced hybrid and battery-electric vehicles will boost the efficiency, power, and overall service quality of its transit system while fueling good manufacturing jobs and economic opportunity across the United States."

"These new hybrid and battery-electric buses allow us to replace aging vehicles, improve the customer experience, and continue modernizing our fleet while reducing emissions across the region," said Randy Clarke, General Manager and CEO of Metro. "Partnering with New Flyer helps ensure we're delivering safe, dependable service and demonstrating good financial stewardship."

Metro is America's fifth-largest bus network in the United States. It provides Metrorail and Metrobus transit services for more than four million people across 1,500 square miles in the District of Columbia, Maryland, and Virginia. Metrobus operates a fleet of 1,500 buses and provides approximately 124 million annual trips. In 2025, Metro was named Outstanding Public Transit Agency of the Year by the American Public Transportation Association.

This purchase of low- and zero-emission buses follows the base order of 100 New Flyer hybrid-electric buses announced in February 2025 under the five-year contract and builds on Metro's existing battery-electric fleet already in service today.

About NFI

Leveraging 450 years of combined experience, NFI offers a wide range of propulsion-agnostic bus and coach platforms, including market-leading electric models. Through its low- and 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 9,000 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^® (motorcoaches), Alexander Dennis Limited (single- and double-deck buses), 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 (referring to propulsion systems that do not utilize internal combustion engines, such as 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 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 NFI 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 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 (including as a result of tariffs and other trade measures) and economic conditions of and funding availability for customers to purchase buses and to purchase parts or services (including as a result of recent U.S. policy developments); 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: 
Melissa Schnee 
P: 385.910.6861 
Melissa_Schnee@newflyer.com 

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

Photos accompanying this announcement are available at 

https://www.globenewswire.com/NewsRoom/AttachmentNg/d752d633-0a6f-426c-bb09-5c9bb2cbd375 

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