NFI NFI Group Inc

(TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (“NFI”), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, today announced that it has been ranked among Corporate Knights’ Best 50 Corporate Citizens in Canada for the second consecutive year.

The Best 50 Corporate Citizens in Canada highlights companies that outperform their peers in corporate sustainability leadership. To determine the ranking, Corporate Knights analyzed 286 large Canadian organizations on sustainable investments, sustainable revenues, and a range of other environmental, social, and governance (“ESG”) key performance indicators.

On a total returns basis, the Best 50 Corporate Citizens’ stock market performance has outpaced that of its peers, earning a 496% gross return since it was first launched in June 2002, versus 368% for S&P/TSX Composite.1

Since 2015, NFI’s zero-emission buses, or ZEBs, have travelled more than 115 million miles and prevented the emission of billions of pounds of CO2 into the atmosphere. NFI Infrastructure SolutionsTM has delivered over 390 electric vehicle chargers with a total of over 77 megawatts of charging capacity. As of May 2023, NFI’s Board of Directors is 80% independent, with 63% of those independent Directors self-identifying as female - above the Company’s target for 50% female representation on the Board.

“At NFI, we take pride in being an employer of choice, and we continuously strive to be a good corporate citizen. It is an honour for NFI Group to be named among the Best 50 Corporate Citizens in Canada for the second consecutive year, and we extend our thanks to Corporate Knights for this recognition,” said Natalia Klumper, Sustainability Manager, NFI. “Our Company has a pivotal role to play in driving tangible environmental and social impact, with our carefully planned and systematic approach being embedded in our corporate strategy through our Sustainability Pledge.

NFI’s ESG Report for 2022 (“ESG Report”) provides updated key performance indicators, highlights, ESG priorities for 2023, as well as some specific projects and initiatives the Company undertook in the year. The Report focuses on the three main components of NFI’s Sustainability Pledge, first adopted in 2006: “Better Product. Better Workplace. Better World”, which guides the Company’s daily actions and long-term planning. NFI’s ESG Report and related information can be found at www.nfigroup.com/esg

NFI is a leader in zero-emission mobility, with electric vehicles operating (or on order) in more than 130 cities in six countries. NFI offers the widest range of zero-emission battery and fuel cell-electric buses and coaches, and its vehicles have completed over 115 million EV service miles.

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. NFI also operates the Vehicle Innovation Center (“VIC”), the first and only innovation lab of its kind dedicated to advancing bus and coach technology and providing workforce development. Since opening in late 2017, the VIC has hosted over 350 interactive events, welcoming 7,000 industry professionals for EV and infrastructure training.

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 7,700 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 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, www.nfi.parts, www.alexander-dennis.com, www.arbocsv.com, and www.carfaircomposites.com.

For sustainability inquiries, please contact:esg@nfigroup.com

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

1 Source: Corporate Knights