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BC Transit propels its low carbon promise with another order of 68 New Flyer CNG buses

WINNIPEG, Aug. 14, 2019 (Canada NewsWire via COMTEX) --

(TSX: NFI) New Flyer Industries Canada ULC ("New Flyer"), a subsidiary of NFI Group Inc. ("NFI"), one of the world's leading independent global bus manufacturers, today announced that the BC Transit Corporation ("BC Transit") has issued an order for 68 compressed natural gas ("CNG") Xcelsior(®) forty-foot, heavy-duty transit buses. The order follows BC Transit's 2018 purchase of CNG buses, which were converted from the New Flyer option backlog.

Today's announcement follows the July 29, 2019 launch of BC Transit's low carbon program, which committed to full fleet electrification by 2040. Within this plan, BC Transit will transition all 1,200 of its buses from traditional propulsion to zero-emission vehicles. Earlier in July, the Canadian and British Columbia provincial government pledged $79 million to BC Transit for a new electric bus fleet.

BC Transit has ordered 700 buses from NFI since 1992, including New Flyer transit buses, Alexander Dennis Limited double-deck buses, and ARBOC(®) low-floor cutaway buses.

"BC Transit is a shining example of a progressive transit agency utilizing safe and readily available buses to lead the low carbon revolution," said Chris Stoddart, President, New Flyer. "With the ability to reduce nitrogen oxides emissions by 90%, CNG has an immediate impact on improving air quality. Since 1994, New Flyer has delivered over 13,000 CNG buses across North America and is proud to build on this low-emission footprint with BC Transit. Together, and alongside our battery-electric buses in Toronto, Montreal, and Laval, we are driving sustainable transit in Canada."

New Flyer is the only manufacturer offering a complete range of clean propulsion systems in both conventional and articulated transit buses, and has been advancing zero-emission bus ("ZEB") mobility in Canada since 1968 when it delivered its first ZEB to the Toronto Transit Commission. Since then, it has delivered over 540 ZEBs across Canada. New Flyer's first CNG bus was delivered in 1994, followed by the introduction of its first ever battery-electric bus in 2012.

NFI has over 50 years' experience manufacturing zero-emission buses, and actively advocates for the electrification of public transit vehicles and standardization of charging infrastructure. In 2018, it signed onto the Shared Mobility Principles for Livable Cities, the CALSTART Global Commercial Drive to Zero pledge, the Transportation Electrification Accord; joined OppCharge in North America; and celebrated the Canadian Urban Transit Research and Innovation Consortium's ("CUTRIC") launch of the Pan-Canadian Electric Bus Demonstration and Integration Trial - the world's first multi-manufacturer interoperability demonstration for fast-charge electric buses - of which New Flyer was a contributing member.

About NFI

With over 8,900 team members operating from more than 50 facilities across ten countries, NFI is a leading independent global bus manufacturer providing a comprehensive suite of mass transportation solutions under brands: New Flyer(®) (heavy-duty transit buses), Alexander Dennis Limited (single and double-deck buses), Paxton (motor coaches), MCI(®) (motor coaches), ARBOC(®) (low-floor cutaway and medium-duty buses), and NFI PartsTM. NFI buses and motor coaches 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). In total, NFI now supports over 105,000 buses and coaches currently in service around the world. NFI common shares are traded on the Toronto Stock Exchange under the symbol NFI. News and information are 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 CHARGETM 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 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 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.

SOURCE New Flyer Industries Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2019/14/c4678.html

SOURCE: New Flyer Industries Inc.

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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