New Flyer unveils Xcelsior CHARGE H2™ bus becoming the first to offer two fuel cell-electric models

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March 12, 2019
St. Cloud, Minnesota, USA – March 12, 2019: (TSX: NFI) New Flyer of America Inc. and New Flyer Industries Canada ULC (together “New Flyer”), subsidiaries of NFI Group Inc. (“NFI”), the largest bus manufacturer in North America, today unveiled the Xcelsior CHARGE H2™ – its fuel cell-electric heavy-duty transit bus – and announced that both the forty-foot and sixty-foot model have successfully completed the Federal Transit Administration (“FTA”) Model Bus Testing Program at Altoona, Pennsylvania (“Altoona Testing”).

This makes the Xcelsior CHARGE H2™ the first sixty-foot fuel cell-electric bus to complete Altoona, and establishes New Flyer as the only manufacturer to offer both a forty-foot and sixty-foot fuel cell-electric model that qualifies for federal funding.

The Xcelsior CHARGE H2™ are vehicles that use environmentally-friendly hydrogen and fuel-cell technology to create electricity and charge batteries for extended-range zero-emission transit operations, saving 85-175 tons of greenhouse gas per year from tailpipe emissions compared to a traditional diesel bus. With a range of up to 300 miles, the bus can be refueled in 6-20 minutes depending on the model and operating conditions, and requires no overnight plug-in electrical re-charging. The Xcelsior CHARGE H2™ also features regenerative braking while decelerating, which recharges the batteries and reduces energy consumption for extending range. The only tailpipe output is clean water vapor.

New Flyer has over 50 years of experience manufacturing zero-emission buses (“ZEBs”). It introduced its next-generation battery-electric bus, the Xcelsior CHARGE™ in 2017. With the addition of the Xcelsior CHARGE H2™, New Flyer offers the most diverse lineup of commercially available zero-emission transit buses in North America, and remains the only North American manufacturer to provide all three types of ZEB propulsion systems: trolley-electric, all battery-electric, and fuel cell electric.

New Flyer is currently delivering twenty-five (25) Xcelsior CHARGE H2™ fuel cell-electric buses to three transit agencies as part of California Climate Investments (CCI). CCI is a statewide initiative that puts billions of Cap-and-Trade dollars to work reducing greenhouse gas emissions, strengthening the economy, and improving public health and the environment, particularly in disadvantaged communities, low-income communities, and low-income households.

“With the addition of the Xcelsior CHARGE H2, New Flyer proudly offers a robust line-up of zero-emission transit buses to assist in the transition to clean transit, to serve the evolving needs of communities, and to meet increasingly stringent greenhouse gas emissions regulation such as California’s Innovative Clean Transit Rule,” said Chris Stoddart, President, New Flyer. “We anticipate fuel cells for extended range will complement all battery-electric technology, not only in transit, but other industries such as commercial trucks.”

According to the California Air Resources Board (“CARB”), adopting zero-emission public transit can reduce greenhouse gas emissions by 19 million metric tons from 2020 to 2050 – the equivalent of taking 4 million cars off the road – and will reduce emissions by approximately 7,000 tons. Programs like CARB’s Innovative Clean Transit (ICT) regulation challenges transit agencies to look for cleaner energy sources by mandating that California public transit agencies operate 100 percent ZEBs by 2040.

New Flyer currently has significant ZEB orders from major cities including Toronto, Boston,
Minneapolis, New York, Portland, and Vancouver. In California alone, New Flyer has sold nearly 80 battery-electric buses, with active programs in Coachella Valley, Los Angeles, Oakland, Orange County, and San Diego. Since 1972, New Flyer has delivered over 10,000 buses to the state of California, beginning with zero-emission trolley-electric buses.

In January 2019, New Flyer expanded its product offering by introducing New Flyer Infrastructure Solutions™, a service dedicated to providing safe, reliable, smart, and sustainable charging and mobility solutions as transit agencies look to transition their traditional fleets to zero-emission.

In 2018, New Flyer became the first bus manufacturer in the world to sign on to the Shared
Mobility Principles for Livable Cities, joined CharIN to support industry charging standards for all electric vehicles, became the first licensee outside the Volvo Group to join OppCharge in North America, signed CALSTART’s Global Commercial Drive to Zero to support fast-tracking adoption of clean trucks and buses, and also signed the Transportation Electrification Accord focused on driving an equitable and prosperous future for electrified transportation.

For more information on the Xcelsior CHARGE H2™, visit newflyer.com/CHARGEH2.

About NFI

With over 6,100 team members, operating from 31 facilities across Canada and the United States, NFI is North America’s largest bus manufacturer providing a comprehensive suite of mass transportation solutions under brands: New Flyer® (heavy-duty transit buses), ARBOC® (low-floor cutaway and medium-duty buses), MCI® (motor coaches), and NFI Parts™ (parts, support, and service). NFI buses incorporate the widest range of drive systems available including: clean diesel, natural gas, diesel-electric hybrid, and zero-emission electric (trolley, battery, and fuel cell) on proven bus platforms. It also supports infrastructure development through New Flyer Infrastructure Solutions™, a service dedicated to providing safe and reliable charging and mobility solutions. In total, NFI supports over 74,000 buses and coaches currently in service across North America. For the fiscal year ended December 31, 2017, NFI posted revenues of US $2.4 billion. NFI common shares are traded on the Toronto Stock Exchange under the symbol NFI. News and information are available at www.nfigroup.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 New Flyer Infrastructure Solutions™, a service dedicated to providing safe, sustainable, and reliable charging and mobility solutions. New Flyer actively supports over 41,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 7,300 are powered by electric motors and battery propulsion and 1,600 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, there may be no demand for a forty-foot or a sixty-foot fuel cell-electric transit bus from customers, the expected benefits to customers in operating this type of bus may not be realized, the economic conditions of and funding availability for customers to purchase buses and to purchase parts or services 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 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 Norris
P: 204.792.8424
Lindy_Norris@newflyer.com

For investor inquiries, please contact:
Stephen King
P: 204.224.6382
Stephen_King@newflyer.com

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