NFI Group reported first-quarter 2026 results showing sales of $841.98 million and a return to profitability with net income of $11.51 million. The company reaffirmed its full-year revenue guidance of $3.90–4.20 billion. The transit bus manufacturer's narrative projects $5.8 billion revenue and $118.8 million earnings by 2028, requiring 21.5% yearly revenue growth. The company holds a $13.2 billion backlog, supported by transit electrification trends, though faces challenges from high debt and margin sensitivity. NFI Group's improved earnings profile comes as it navigates competitive pressure and execution risks on deliveries. The company recently confirmed board and committee appointments alongside the quarterly results.

BC Transit partners with Alexander Dennis for fleet upgrade with order of 41 new Enviro500 Double-Deckers. Rhea-AI Impact Rhea-AI Sentiment partnership Rhea-AI summary. NFI (OTC: NFYEF) subsidiary Alexander Dennis received a firm order for 41 Enviro500 double-decker buses from BC Transit on May 8, 2026, added to the company's firm backlog in Q1 2026. Each bus seats up to 80 passengers; units will replace end-of-life vehicles and expand double-decker capacity across British Columbia, including Victoria where ~50 Alexander Dennis double-deckers already operate. The order reinforces ongoing demand for the Enviro500 platform and continues a 40+-year partnership between NFI and BC Transit. AI-generated analysis. Not financial advice. Positive. * Firm order for 41 Enviro500 buses added to Q1 2026 backlog * High seating capacity: each bus seats up to 80 passengers * Strengthens relationship with BC Transit after 40+ years * Supports fleet renewal by replacing end-of-life vehicles Negative. * Contract value not disclosed in the announcement * Order size limited to 41 units (modest scale) News market reaction - NFYEF. 05/08/2026 - 04:00 AM WINNIPEG, Manitoba, May 08, 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, subsidiary Alexander Dennis Limited (Alexander Dennis), has confirmed that it has received a firm order for 41 Enviro500 double-deck buses from BC Transit in British Columbia, Canada. The order was added to the company's firm backlog in Q1 2026. BC Transit is a provincial Crown corporation that delivers public transportation services throughout British Columbia, excluding the Greater Vancouver area. Servicing more than 1.9 million people and 130 communities across B.C., the agency transports more than 54 million people annually. The new buses will replace older vehicles that have reached the end of their operational life and will continue to integrate double-decker buses into the BC Transit fleet. Each Enviro500 will accommodate up to 80 seated passengers, delivering high seating capacity while maintaining a compact road footprint. BC Transit was the first transit service in North America to introduce double-decker buses in 2000, and it has continued to invest in double-deckers ever since. Victoria fleet currently includes approximately 50 Alexander Dennis double-decker buses, with additional buses being introduced throughout this year. "NFI and BC Transit have worked in partnership for more than 40 years with a shared commitment to ensuring comfortable, safe, and efficient transit for commuters in British Columbia," said Talha Wasif, General Manager, North America, Alexander Dennis. "We are excited to work with BC Transit once again by providing Alexander Dennis' Enviro500 double-decker buses that are renowned for exemplary passenger capacity." "Double-decker buses have been a defining symbol in our capital city since the year 2000, with Victoria becoming the first place in North America to operate double-decker buses for public transit," said Erinn Pinkerton, President and Chief Executive Officer for BC Transit. "The original 10 buses were Dennis Trident models manufactured by Alexander Dennis. BC Transit is proud that, a quarter of a century later, we continue to purchase double-decker buses from Alexander Dennis - a testament to the strong relationship between us." The contract adds to Alexander Dennis's order book and reflects ongoing demand for the Enviro500 platform, while supporting BC Transit's efforts to expand capacity and enhance passenger experience across the province. 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. About Alexander Dennis Alexander Dennis is a world-class manufacturer of double-decker buses for the North American market and the only producer of double-deck buses on the continent. Operating from its manufacturing facility in Las Vegas, Nevada, Alexander Dennis designs and builds its Enviro500 double-deck buses for transit authorities across the United States and Canada. As a subsidiary of NFI Group Inc., Alexander Dennis combines global engineering expertise with local manufacturing to deliver high-capacity, efficient, and proven transit solutions for communities throughout North America. Further information is available at alexander-dennis.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 [email protected] For investor inquiries, please contact: Stephen King P: 204.792.1300 [email protected] Faq. What did NFI (NFYEF) announce on May 8, 2026 about BC Transit? NFI announced a firm order for 41 Enviro500 double-decker buses from BC Transit added to Q1 2026 backlog. According to the company, buses will replace end-of-life vehicles and expand double-decker capacity across British Columbia. How many passengers does each Enviro500 double-decker seat for BC Transit (NFYEF)? Each Enviro500 will accommodate up to 80 seated passengers, delivering high seating capacity. According to the company, this helps increase passenger capacity while keeping a compact road footprint. Will the BC Transit (NFYEF) order change Victoria's double-decker fleet size? The order will add units to Victoria and provincial operations; Victoria currently has about 50 Alexander Dennis double-deckers. According to the company, additional buses will be introduced throughout the year. When was the BC Transit Enviro500 order recorded on NFI's backlog (NFYEF)? The order was added to NFI's firm backlog in Q1 2026. According to the company, it is a confirmed, firm order placed by BC Transit and reflected in backlog timing. What operational purpose did BC Transit state for the new Enviro500 buses (NFYEF)? BC Transit said the buses will replace older end-of-life vehicles and expand capacity across communities. According to the company, the move continues BC Transit's long-standing use of double-decker buses since 2000.

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.