NFI GROUP INC. ANNOUNCES THIRD QUARTER 2020 DIVIDEND

September 15, 2020 NFI Group

Winnipeg, Manitoba, Canada – September 15, 2020: (TSX:NFI) NFI Group Inc. (the “Company”) today declared a quarterly dividend for the period July 1, 2020 to September 30, 2020 on the common shares of the Company (the “Shares”) in the amount of C$0.2125 per Share to holders of record at the close of business on September 30, 2020.  The dividend will be payable on October 15, 2020.

The dividends on the Shares are designated as “eligible dividends” for purposes of the enhanced dividend tax credit rules contained in the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation.

About the Company

With more than 9,000 team members operating from 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), Plaxton (motor coaches), MCI® (motor coaches), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts™. NFI vehicles 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.  The Shares are traded on the Toronto Stock Exchange under the symbol NFI. News and information are available at www.nfigroup.com.

Forward-Looking Statements

This press release may contain forward-looking statements relating to expected future events and financial and operating results of the Company that involve risks and uncertainties.  Actual results will likely differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including, but not limited to, the adverse impact of the COVID-19 pandemic on the Company’s business, financial condition, liquidity and operating results and its cash flow and liquidity and its ability to maintain compliance with the covenants under its credit facilities, which may also negatively impact the ability of the Company to fund dividends; and the other risks and uncertainties detailed in the disclosure documents filed with the Canadian securities regulatory authorities and available on SEDAR at www.sedar.com.  Due to the potential impact of these factors, the Company 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 further information, please contact:

Stephen King
Group Director, Treasury, Corporate Development and Investor Relations, NFI Group
204.224.6382
Stephen.King@nfigroup.com