NFI Group has appointed Rob Marion as president of Motor Coach Industries and nominated two new independent directors, Daniel Barclay and John Scannell, for election at its 8 May 2026 shareholder meeting. The changes aim to strengthen expertise in manufacturing, supply chains and capital markets. Marion's appointment re-establishes MCI as a standalone business unit, concentrating accountability for sales, manufacturing and service. This comes as NFI guides towards US$3.9 billion to US$4.2 billion in 2026 revenue. The company's investment case hinges on whether its record backlog and supportive fleet replacement funding can overcome current losses and high leverage. Key risks include debt pressures, concentrated supplier dependencies and an ongoing battery recall that could impact profitability.

NFI announces Rob Marion as President of Motor Coach Industries. April 02, 2026 15:00 ET | Source: NFI Group Inc WINNIPEG, Manitoba, April 02, 2026 (GLOBE NEWSWIRE) - (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (NFI), a leading manufacturer of buses and coaches and a provider of comprehensive aftermarket parts and service solutions, is pleased to announce the selection of Rob Marion as the new President of Motor Coach Industries (MCI). Rob will start his new role effective today, April 2, 2026, reporting directly to NFI's President and Chief Executive Officer, John Sapp. Rob joined New Flyer in 1994 and, during his three decades with the organization, has assumed advancing responsibilities for facilities engineering, production, manufacturing engineering, and part fabrication. Most recently, Rob served as Vice President of Fabrication, where he led operational excellence, quality and continuous improvement, and performance for all North American internal part fabrication and sub-assembly operations (including New Flyer, MCI, KMG, and Carfair Composites), together supporting NFI bus and coach manufacturing. NFI's former President and CEO, Paul Soubry, had served as interim President of MCI until his retirement in January 2026, and Rob's appointment now establishes a dedicated President for the business, taking full ownership of MCI's sales, engineering, manufacturing, service, and support functions. In 2020, NFI combined its New Flyer and MCI businesses into one operating unit, reflecting the financial impact of the COVID-19 pandemic and the associated global supply chain challenges. These activities were completed with a focus on streamlining operations while also strengthening engineering, supply, and product development platforms during a period where MCI experienced lower market demand. "Today's announcement represents a natural and strategic time to re-establish MCI as its own dedicated business, allowing New Flyer and MCI to both focus on what they do best. MCI has seen significant market recovery, with the launch of new vehicle models, harmonized production lines, and an expanded service offering. Rob's deep operational experience, long-standing commitment to NFI, and three decades of hands-on operational leadership, with oversight of 10 facilities and over 2,000 team members, make him the ideal person to lead the next chapter of MCI," said John Sapp, President and Chief Executive Officer. "Rob will champion MCI's efforts in delivering the highest quality and most reliable coaches in the market and will work closely with the leadership team on a detailed transition. Our public and private customers can be confident that MCI is in very capable hands." Rob earned a Manufacturing Engineering Technology diploma from Red River College, a Chartered Manager (C.Mgr.) designation from the Canadian Institute of Management and the University of Manitoba, a Production and Inventory Management certificate from the Association for Operations Management, in addition to Certified Engineering Technologist (CET), Certified in Management (C.I.M.), and Certified in Production and Inventory Management (CPIM) designations. He is an expert in lean manufacturing, holding a Certified Blackbelt accreditation through LEAN Sensei International and the Canadian Manufacturers and Exporters Association. Additionally, Rob serves on the Board of Directors for the CWB Welding Foundation. "I'm very excited to take on the opportunity to lead North America's largest motorcoach manufacturer. MCI vehicles move thousands of people safely and reliably across the U.S. and Canada every single day," said Rob Marion, President, MCI. "As I step into the role, I want to continue our history of performance while ensuring we drive changes to increase our quality, customer experience, and aftermarket support. Working with the best team in the industry, I know that we'll live up to our reputation of being the preferred partner for private and public motorcoach operators." NFI is a leading independent global bus and coach manufacturer and a provider of aftermarket parts and service solutions. With more than 9,000 team members across ten countries and operations spanning over 40 facilities, NFI delivers a comprehensive portfolio of bus and coach platforms. Through its brands New Flyer(R)(heavy-duty transit buses), MCI(R)(motorcoaches), Alexander Dennis Limited (single- and double-deck buses), ARBOC(R)(low-floor cutaway and medium-duty buses), and NFI Parts(TM), NFI supports a diverse and extensive portfolio, serving public transit, commuter, and coach markets. In total, NFI supports an installed base of more than 100,000 buses and coaches worldwide. NFI offers a broad range of propulsion systems, 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 advanced diesel technologies, providing agencies with multiple fleet technology options. NFI's common shares trade on the Toronto Stock Exchange (TSX: NFI) and its convertible unsecured debentures trade 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. MCI is North America's leading manufacturer of public and private market motorcoaches. Products include the luxury J Series (an industry best-seller for more than two decades), the workhorse D Series, and the zero-emission J4500 CHARGE(TM), D45 CRT CHARGE(TM), and D45 CRT LE CHARGE(TM). MCI also provides maintenance, repair, 24-hour roadside assistance, parts, and technician training through the industry's only Automotive Service Excellence (ASE) accredited and award-winning MCI Academy. For media inquiries, please contact: Lynn Marzullo 847-764-9145 [email protected] For investor inquiries, please contact: Stephen King P: 204.792.1300 [email protected]

Motor Coach Industries, a subsidiary of NFI Group Inc. and a leading motorcoach provider in North America, has expanded its service capabilities in Southern California with the opening of a new full-service facility in Torrance.